P2P Markets Report: Latin American Markets Continue to Post Record Volume
This past week has seen Latin American peer-to-peer markets continue to set records for trade volume. For the week ending Dec. 8, Argentina and Venezuela posted a new record for Localbitcoins trade when measured in fiat, while Colombia, Peru, and Venezuela also posted records for trade measured in BTC.
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Fiat Volume Records Posted by Argentina and Venezuela
Argentina posted a new record for fiat P2P trade volume on Localbitcoins this past week, with over 9.4 million pesos worth of BTC changing hands. The week also saw a significant uptick in the number of BTC traded, with the 65 BTC comprising the most bitcoins traded in a single week since March 2017.
Venezuela set a new record in fiat volume for the third consecutive week, with 3.2 billion Venezuelan bolivars’ worth of trade. The week of Dec. 8 also saw the third consecutive record for trade when measuring in BTC for Venezuela, with 1,636 BTC changing hands.
BTC Records for Colombia and Peru
660 BTC were exchanged for Colombian pesos via Localbitcoins this past week, the most in the market’s history. The same week also comprised the fifth strongest when measuring in fiat currency, with 7.1 billion Colombian pesos’ worth of trade taking place.
Peru also posted a new record for the number of BTC traded on Localbitcoins in a single week, with 213 BTC exchanged. This comprised the eighth strongest on record when measuring in fiat, with roughly 2.68 million Peruvian sol of trade.
Chile and Mexico Post Strong Volume
The week of Dec. 8 was the sixth strongest on record for Chilean P2P trade, with 196.4 million Chilean pesos’ worth of BTC changing hands. The week also comprised the fourth strongest on record when measuring in cryptocurrency, with 69 BTC traded.
Mexico also saw a strong week for P2P trade, posting the 10th strongest week on record for trade between BTC and Mexican pesos. The week also comprised the strongest since May 2017 when measuring in BTC, with 99 BTC worth of trade occurring.
Do you think recent Latin American volume records will continue to be broken in the coming weeks? Share your thoughts in the comments section below!
Images courtesy of Shutterstock, Coin.dance
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