Venezuelans are increasingly turning to cryptocurrencies in search of financial stability amid election turmoil in Venezuela.
Google Trends showed a surge in interest in #bitcoin , including queries related to the Lightning Network and the price of bitcoin in U. S. dollars.
As Venezuela's presidential election descends into chaos and both incumbent President Nicolas Maduro and opposition leader Edmundo Gonzalez claim victory, one thing is becoming increasingly clear.
Google Trends data speaks for itself. A few months before Election Day (July 16), the number of bitcoin-related queries on Google reached 100. However, during the rest of the month, interest in bitcoin declined but remained high, more than twice the global average.
the credibility of the results of the July 28 election in Venezuela has been called into question. The National Electoral Council declared Nicolas Maduro the winner, but international observers criticized the election for lack of integrity. According to U. S. Congressman Brian A. Nichols, President Maduro should recognize the true results.
In the meantime, opposition leader Maria Corina Machado, who was banned from participating in the election, declared Edmundo Gonzalez the winner, as confirmed by official polls and verification sites. This conflicting information underscores the role of platforms like Polymarket in providing alternative opinions.
In the midst of political turmoil, Venezuelans are looking for alternative sources of information, and Polymarket, founded by Polygon, has become one such platform that people can trust for real-time information on election results. The fluctuating sentiment of traders on Polymarket, a peer-to-peer trading platform that initially expressed support for Maduro despite polls showing support for Gonzalez, underscores the deep distrust of Venezuela's traditional institutions.
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