The Localbitcoins markets of several nations have produced significant spikes in recent weeks, with the peer-to-peer (P2P) markets of Hungary, Peru, and Venezuela establishing new all-time highs for volume when measuring in trade in fiat currency.
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P2P Markets of Latin America Surge
The P2P trading volume of numerous South American markets have shown considerable strength in recent weeks, with many markets producing among the strongest weeks of trading in recent history when measuring volume in fiat currency.
Peru set a new record for weekly volume for the second week in a row when measuring against fiat currency, with 1,944,396 PEN (nearly $600,000 USD) worth of bitcoin exchanging hands this past week – an approximately 14% increase from last week’s record of 1,705,992 PEN.
When measuring volume in BTC, the last two weeks both posted approximately 71 bitcoins – the second largest number of BTC traded in a single week for Peru’s P2P markets since the 80 bitcoins traded during the week of the 19th of December 2017.
The Brazilian Localbitcoins markets produced a spike in volume during the week of the 14th of April, with trade volume reaching 3,158,258 BRL (approximately $905,000 USD), comprising the third largest weekly volume candle in the history of Brazilian P2P trade.
Argentinian and Venezuelan Peer-to-Peer Markets Rally
Argentina’s P2P markets also rallied during the week of the 14th of April, spiking to comprise the fourth most traded week in the history of Argentinian Localbitcoins trade. The week of the 14th posted a trading volume of 4,506,932 (almost $220,000 USD).
When measuring volume in bitcoins, the 29 BTC traded during the 14th comprises the largest number of bitcoin
