Global Bitcoin P2P Volume Make New Record Since Jan 2018
Bitcoin trading volumes have risen to their highest level since January 2018, with Bitcoin (BTC) changing hands for the first time in more than a year, according to a new report from the subsequent firm.
The increase follows new highs in July and August, after hitting a record high in early July. Colombia is the second-largest market for bitcoin trading worldwide, followed by the United States and the United Kingdom (3rd). Venezuelan trade is still above $5 million for two consecutive weeks and accounts for a significant portion of global Bitcoin trade, totaling $1.5 billion.
The firm detailed that after the UK’s official shutdown, its app saw a massive surge in crypto-trading activity. At the end of March, the volume of Bitcoin trading increased by more than 1,000%, and the number of Bitcoin transactions on the platform has also increased significantly in recent weeks.
An additional million dollars in weekly trade would take Latin America to a new all-time high for regional P2P business. African peer-to-peer trade continues to recover, and Sub-Saharan Africa has set new volume records in the last ten weeks.
While Nigeria still accounts for less than 1% of the global P2P Bitcoin trade volume, Kenya, South Africa, Ghana, and Nigeria have set new records.
Indian P2P trade has reached a record high, recently surpassing $4 million for the first time. Kenya is the world’s second-largest bitcoin trading market, followed by Kenya in Africa, with a total trade volume of $2.5 million.
