Bitcoin price highs last week had serious knock-on effects for some markets, with traders worldwide setting several new records.
South America’s Record Bitcoin Trading
Data from monitoring resource Coin Dance, which tracks volumes on P2P Bitcoin exchanges Localbitcoins, Paxful and Bisq, confirmed South America in particular saw huge amounts of fiat currency change hands during the seven days ending April 6.
Having steadily increased over the past year, volumes for Localbitcoins in Venezuela led the way last week. In total, 26.4 billion sovereign bolivars (VES) went through the platform.
While not a record in Bitcoin terms, as Bitcoinist continues to report, the volatility of the Venezuelan currency due to the country’s precarious politicial and economic situation has led citizens to cryptocurrency in droves.
While previously little noticed, the phenomenon has now begun entering the mainstream media, with users going on record to reiterate their faith in the borderless alternative to the VES or the Petro, the Venezuelan…