The crypto dollar fell below 1,430 pesos after the initial results of the legislative elections were announced.

The price of USDT and other stablecoins—popularly known as the "crypto dollar"—has seen a rapid decline in Argentina relative to its peso price.

This has been occurring since the afternoon and evening of yesterday, October 26, 2025, after the results of the legislative elections began to be announced. Libertad Avanza (the political party to which the national government and President Javier Milei belong) won by a wide margin over its rivals both nationally and in key districts.

At the national level, in both the House and Senate, Milei's political party obtained more than 40% of the votes. This means that starting December 10th, if La Libertad Avanza reaches agreements with like-minded political forces, it will be able to achieve the necessary consensus to approve the reforms President Milei intends to promote in the Legislature.

With the confidence in the markets that these election results brought, stablecoins saw immediate movement. The following chart shows the USDT price in Argentine pesos over the last 7 days:

As can be seen in the image, the crypto dollar fell below 1,430 pesos, a level not seen since October 14.

The following chart, provided by the Argentine exchange Lemon, shows the volume of crypto dollar purchases and sales on that platform, hour by hour. It is evident that from the first minutes after the election results were announced, sales (i.e., the conversion of stablecoins to Argentine pesos) increased. Likewise, it can be seen how now, with the price of the crypto dollar relatively low, the buying trend is returning:

In a statement sent by Ripio before Sunday's elections, it commented on the topic that "the wAL30rd market will allow us to see in real time how interest in Argentine bonds moves around the vote, just as in past elections, USD stablecoins anticipated exchange rate and market movements for the following Monday."

Ripio adds: "What will remain, one way or another, is that we're coming from a world without Sunday markets, even less so during elections. With the tokenization of the AL30 and the use of stablecoins (USDT, USDC), we're moving toward a 24/7 immediate trading system. Investing during election day may seem unusual, but it's a new opportunity in Argentina and a first step in what we're exploring at Ripio in terms of tokenizing real-world assets."