In recent weeks, the peer-to-peer (P2P) bitcoin markets of several Latin American markets have produced record-breaking volume, with the Localbitcoins markets of Chile, Peru, and Venezuela producing all-time highs for trade volume in recent weeks when measured in local fiat currencies. The Canadian markets have also produced a dramatic spike in volume – recently setting new all-time highs for the number of bitcoins traded for CAD on Localbitcoins.
Also Read: CFTC Subpoenas Leading Exchanges for Trading Data
Peruvian P2P Markets Post Record Trade Volume
In recent weeks, the Localbitcoins markets of several South American countries have produced record-breaking volume, according to Coin.dance data.
The Peruvian P2P markets have produced all-time highs for Localbitcoins trade volume when measuring in both in fiat currency and bitcoin. The last two weeks have comprised the two highest volume weeks in the history of the Peruvian P2P bitcoin markets.
During the week of the 26th of May, Peru’s Localbitcoins market broke its previous all-time volume high of 80 BTC (dated from December 2015) after producing 106 BTC worth of trade in a single week. The markets then produced 88 BTC worth of trade during the following week of the 2nd of June.
When measuring against fiat currency, the week of the 26th of May saw $2.7 million PEN worth of trade (approximately 830,000 USD).
Volume Surges Across Latin American P2P Bitcoin Markets
Chile’s Localbitcoins markets produced a new all-time high for trade volume when paired against fiat currency. The first week of May saw nearly $234.4 million Chilean Pesos (roughly $370,000 USD) worth of BTC exchange hands via Localbitcoins.
The Venezuelan Localbitcoins markets have set a new all-time high for the fiat-value of weekly trading
