加密貨幣成為陷入困境的阿根廷和土耳其的避風港

在土耳其和阿根廷等國家的經濟動盪和通貨膨脹飆升的情況下，加密貨幣已成為避風港。數據顯示，土耳其的加密貨幣擁有率為 27.1%，阿根廷為 23.5%，遠超全球平均 11.9%。與美元等傳統資產掛鉤的穩定幣作為當地貨幣貶值的替代品越來越受歡迎。

Cryptocurrencies Emerge as Safe Havens Amidst Economic Turmoil in Argentina and Turkey

在阿根廷和土耳其的經濟動盪中，加密貨幣成為避風港

In an unprecedented twist, inherently volatile cryptocurrencies have transformed into safe-haven assets in countries plagued by economic turmoil, such as Argentina and Turkey. Skyrocketing inflation and plummeting local currencies have compelled citizens to seek refuge in the digital realm, resulting in remarkable crypto adoption rates.

在前所未有的轉變中，本質上不穩定的加密貨幣已轉變為阿根廷和土耳其等遭受經濟動盪困擾的國家的避險資產。通貨膨脹飆升和當地貨幣暴跌迫使公民在數位領域尋求庇護，導致加密貨幣採用率顯著提高。

According to data from research firm GWI, Turkey boasts the highest cryptocurrency ownership rate globally, with 27.1% of its population holding digital assets. Argentina closely follows at 23.5%, far surpassing the estimated global crypto ownership rate of 11.9%.

研究公司 GWI 的數據顯示，土耳其擁有全球最高的加密貨幣擁有率，27.1% 的人口持有數位資產。阿根廷緊隨其後，為 23.5%，遠遠超過估計的全球加密貨幣擁有率 11.9%。

What unites Turkey and Argentina, beyond their prominence in crypto adoption, is rampant inflation, which has wreaked havoc on their respective currencies and prompted capital controls to prevent the outflow of funds. Turkey's annual inflation rate soared to 50.51% in March, while Argentina's reached an astronomical 104%.

除了在加密貨幣採用方面的突出地位之外，讓土耳其和阿根廷團結起來的是猖獗的通貨膨脹，這對兩國各自的貨幣造成了嚴重破壞，並促使資本管制以防止資金外流。土耳其3月年通膨率飆升至50.51%，阿根廷則達天文數字104%。

The Turkish lira and Argentine peso have spiraled into record lows, exacerbating the economic crisis. In the black market, Argentina's peso trades at around 464 per dollar, more than double the official exchange rate of 222.

土耳其里拉和阿根廷比索已跌至歷史低點，加劇了經濟危機。在黑市上，阿根廷比索的交易價格約為 464 比索兌換 1 美元，是官方匯率 222 比索的兩倍多。

To combat the devaluation of their currencies, individuals and institutions alike are flocking to stablecoins, such as USD Coin (USDC) and Tether (USDT). These crypto tokens are pegged one-to-one to traditional assets like the U.S. dollar or gold, providing investors with an alternative to the increasingly scarce local currency.

為了因應貨幣貶值，個人和機構都紛紛湧向穩定幣，例如美元硬幣 (USDC) 和 Tether (USDT)。這些加密代幣與美元或黃金等傳統資產一對一掛鉤，為投資者提供了日益稀缺的當地貨幣的替代方案。

"People are considering how they can hedge against currency devaluation, whether they are retail or institutional investors," explained Ehab Zaghloul, chief research scientist at Tribal Credit, a digital payments platform for emerging market startups. "They are seeking assets pegged to stronger currencies, such as USDC, USDT, or anything backed by a currency like the U.S. dollar."

「人們正在考慮如何對沖貨幣貶值，無論是散戶還是機構投資者，」新興市場新創公司數位支付平台 Tribal Credit 的首席研究科學家 Ehab Zaghloul 解釋道。 “他們正在尋求與強勢貨幣掛鉤的資產，例如 USDC、USDT 或任何由美元等貨幣支持的資產。”

Amidst the economic turmoil, trading volume for the USDT-Turkish lira pair surged to a multi-month high last week, fueled by the currency's weakness and the upcoming presidential and parliamentary elections, according to Kaiko analyst Dessislava Aubert.

Kaiko 分析師 Dessislava Aubert 表示，在經濟動盪的情況下，由於貨幣疲軟以及即將舉行的總統和議會選舉，USDT 與土耳其里拉貨幣對的交易量上週飆升至數月高點。

"Crypto adoption tends to be higher in countries with capital restrictions, financial instability, and political instability," noted analysts at K33 Research.

K33 Research 的分析師指出：“在資本限制、金融不穩定和政治不穩定的國家，加密貨幣的採用率往往更高。”

Global Crypto Market Dynamics

全球加密貨幣市場動態

While bitcoin, the world's largest cryptocurrency, has gained 72% this year, hovering around $30,000, its highest point in 10 months, overall trading volumes remain far below last summer's levels. Investor confidence was severely shaken by the collapse of crypto exchange FTX and other industry players.

儘管全球最大的加密貨幣比特幣今年上漲了 72%，徘徊在 3 萬美元左右，創 10 個月來的最高點，但整體交易量仍遠低於去年夏天的水平。加密貨幣交易所 FTX 和其他行業參與者的倒閉嚴重動搖了投資者的信心。

Spot bitcoin trading volumes peak during U.S. opening hours, with little variation from 2022, as per data from Kaiko. However, regulatory challenges faced by Binance have shifted a portion of derivative trading volume to Asia Pacific hours from the Americas.

根據 Kaiko 的數據，現貨比特幣交易量在美國開盤時間內達到峰值，與 2022 年相比幾乎沒有變化。然而，幣安面臨的監管挑戰已將部分衍生性商品交易量從美洲轉移至亞太時段。

Excluding dollar-to-crypto transactions, the South Korean won emerges as the second most prominent currency in crypto trading. Crypto volumes in South Korea have rebounded to levels seen in the first and second quarters of 2022 after a lackluster fourth quarter.

不包括美元對加密貨幣的交易，韓元成為加密貨幣交易中第二大貨幣。在經歷了低迷的第四季度之後，韓國的加密貨幣交易量已反彈至 2022 年第一季和第二季的水平。

"The dominance of altcoins makes South Korea a captivating market to analyze," remarked analysts at crypto investment firm Matrixport. "This stands in sharp contrast to other crypto exchanges, where bitcoin and Ethereum account for the bulk of trading volume."

加密貨幣投資公司 Matrixport 的分析師表示：“山寨幣的主導地位使韓國成為一個值得分析的迷人市場。” “這與其他加密貨幣交易所形成鮮明對比，其中比特幣和以太坊佔據了大部分交易量。”

The rise of cryptocurrencies as safe havens in countries facing economic turmoil underscores their potential to play a role in mitigating financial risk. However, the regulatory landscape remains uncertain in many jurisdictions, and the volatility of crypto markets should not be overlooked.

在面臨經濟動盪的國家，加密貨幣作為避風港的崛起凸顯了它們在減輕金融風險方面發揮作用的潛力。然而，許多司法管轄區的監管環境仍不確定，加密貨幣市場的波動性不容忽視。