Argentina Drives LocalBitcoins Global Volumes

Trading volume on Finnish peer-to-peer (P2P) bitcoin (BTC) exchange Localbitcoins hit a high not seen since November 2018, reveals data shown on cryptocurrency analytics website CoinDance.

According to data from CoinDance, LocalBitcoins global weekly bitcoin trading volume hit $65.6 million in the week ending on Sunday, July 7. This is the highest level since November last year when the weekly trading volume of the platform hit $67.7 million in the week ending on Sunday, November 24,
2018.

In some countries, last week represented an all-time high LocalBitcoins volume. For instance, in Argentina, last week the platform’s trading volume hit a new high of over 15.22 million Argentine Pesos (over $364,000).

Venezuela also saw over 47 billion in Venezuelan Bolivars traded, the highest volume to date. Worth noting, however, is that the volume has actually been decreasing in BTC terms, highlighting the rampant hyperinflation plaguing the country.

Reference: https://cointelegraph.com/news/argentina-drives-global-localbitcoins-volume-to-highest-since-november

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