Global Peer-to-Peer Bitcoin Trading Volumes (P2P) reached their highest level since January 2018: in the first week of August Nearly $ 95 million worth of BTC was traded on LocalBitcoins and Paxful
This increase is mainly due to an increase in trading activity in Latin America: from July The P2P Bitcoin markets in Argentina, Mexico, Chile, Bolivia, Honduras, Paraguay, Uruguay and the Bahamas have started breaking new records.
But mainly The highest volume was registered in Venezuela, where more than $ 5 million in Bitcoin is traded every week. Colombia follows with a volume of 3 million. In third and fourth place are Argentina and Peru with a weekly volume of almost a million dollars.
The P2P market is growing rapidly in Africa
Peer-to-peer trade is also increasing in Africa: The region south of the Sahara has broken seven new volume records in the past ten weeks.
While Nigeria still accounts for 50% of the region’s weekly volumeThe markets in South Africa, Ghana, Kenya, Botswana, Zambia and Sudan have set new records in the past fifteen days.
Kenya is the second most important market in Africawith a volume of $ 3.6 million. South Africa and Ghana follow, both nations with a weekly volume of around 2 million.
There is also an increase in P2P trading in India: in August the volume exceeded $ 4 million for the first time.