Bitcoin, Crypto currency, Blockchain

Local bitcoins: New records in Latin America

2c951998b8defa7d15ff47e9a86db89a - Local bitcoins: New records in Latin America

The volume of trading on the crypto-exchange, local bitcoins has been reached for some countries of North and South America, a new all-time highs.

The P2P markets of Latin America continue to grow in the last few weeks. The Figures of the statistics-site Particularly striking are the Figures for Chile, Peru and Venezuela. However, in Canada, a record was broken: Never before on local bitcoins as many canadian dollars to Bitcoins were exchanged in the last few weeks.

Venezuela – Deceptive Numbers

At the latest since the introduction of the controversial Petro, the interest in crypto is growing in Venezuela currencies. On local bitcoins Trader record sums of Bolivar traded in Bitcoins. In the first week of June, the BTC reported market transactions in the value of 487 BTC, or seven trillions of Bolivar.

But be careful: The Numbers are to enjoy in the light of the Hyperinflation of the country has, with caution.

The Inflation grew in April to horrendous is 13,800 percent. In order to get a grip on the Problem and to loosen the stranglehold of the financial markets, led by President Maduro with the Petro in February, a kind of state of crypto currency. Next, it provides for the establishment of a cryptographic Bank.

Peru – New record for BTC and Fiat

In Fiat currencies, the Peruvian trade volume reached measured on local bitcoins, its highest level since December of last year. The previous record stood at over 1,500,000 Peruvian Sol (equivalent to approximately 386.000 euros) and was made in the week of 23.12.2017. Half a year later, this value almost doubled: Over 2.760.000 PEN (approx. 711.400 Euro) were traded in the last week of may on local bitcoins.

It looks similar in terms of Bitcoin: Here, the previous record was 80 BTC Trading volume per week. He was already placed in December 2015. In the week of 26.05.2018 the market has reached volume with 106 BTC to a new all-time high. In the following week “shrank” the volume, although again; with 88 BTC it moves, but still far above average.

Chile – high in the case of Fiat

It is calculated in BTC, Chile broken in the past few weeks, no records. For over a year, the weekly trading volume has not exceeded the 40 BTC mark. The peak of rich 143 BTC dates back to the July of the year in 2015.

Completely different it behaves at the Fiat volume. So traders have made on local bitcoins in the first week of may of this year the value of business 235.000.000 Chilean Pesos (approximately 217.000 Euro). This is a new record. Even if in subsequent weeks the volume is decreased, the tendency of the Chile growing niche in sales on local bitcoins.

Canada – LocalCoin recorded Peak in may

Also from the North America, there is good news for local bitcoins In Canada traders have set up in both the crypto and Fiat a new record in trading volume. In the penultimate week of may, this was 1200 BTC, or about 12.000.000 Canadian dollars (just under 10.440.000 Euro). For comparison: The previous peaks were in front of it at 909 BTC, or about 8,000,000 of CAD.

Whether this will lead to an upward trend developed, however remains uncertain: In the last two weeks, the canadian trade shrank in volume on local bitcoins back to 78 BTC, or more than 760,000 CAD.

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