🚨 Today the Venezuelan P2P market opened with a spread of 9.41%. In other words: if you buy USDT you pay Bs. 1,011.43, but if you sell they offer you Bs. 924.42. A difference of almost Bs. 87 per dollar. This is not normal.

The first thing that stands out is the low liquidity: only 211 active offers on Binance, well below the historical average. When the order book thins out, the spread widens. And that reflects a market with uncertainty and participants waiting for the next move.

It draws attention because recent headlines speak of exchange-rate convergence and a narrowing of the currency gap. But P2P tells another story: buyers and sellers are far from agreeing. While the BCV does not publish its rate (it currently shows N/A), prices move blind, and the most conservative users place extreme offers.

What does it mean for you?

1. If you’re buying $USDT: you’re paying a very high premium compared with the selling price. Before accepting an offer, check several and negotiate. Don’t take the first one.

2. If you’re selling $USDT: your purchasing power in bolivars is lower. If you’re not in a hurry, it may be worth waiting for the spread to normalize. But in this environment, caution is key.

3. Execution is another challenge. With 211 offers, the response speed of the seller or buyer matters more than ever. A payment that takes minutes can make you miss the trade.

It’s likely that the spread will remain wide as long as there are no clear signals of currency policy. In the meantime, my recommendation is simple: don’t marry a single price, use limit order tools, and compare before acting.

In my 8 years of experience in this market, spreads of 9% are a yellow alert. It is not a time to leave orders open out of carelessness, but to operate with precision and patience.

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