The peer-to-peer (P2P) markets have seen a dramatic increase in Iranian and Indonesian trade activity, with both markets posting triple-digit volume gains in recent weeks. Localbitcoins volume has also surged in select Latin American markets this past week, with the Dominican Republic, Colombia, and Venezuela posting some of their strongest trade on record.
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Iranian P2P Trade Volume Up 190% in a Week
During the week of Feb. 23, Localbitcoins trade between Iranian rial (IRR) and BTC nearly tripled. Nearly 34.56 billion IRR (approximately $137,000) changed hands during the seven-day period, comprising the eighth strongest week on record when measured against fiat currency.
When measured in crypto, the week comprised the ninth strongest in the market’s history, with roughly 67 BTC changing hands, a nearly 150% gain over the previous week’s 27 BTC.
Indonesian P2P Trade Activity Gains Over 2,000% in 2 Weeks
Localbitcoins trade between…