In the current peer-to-peer (p2p) market activity, the Latin American LocalBitcoins platform continues to grow steadily. In addition, the volume of peer-to-peer trading platforms rose to a 10-month high not only within Latin America but also within Europe.
Europe and South America LocalBitcoins Markets Strengthen
The EUR/BTC pair on LocalBitcoins managed to reach its highest level since March 2018.
During the week of January 26, it was traded for around 985 BTC Euros, which is worth 3.11 million euros ($3.58 million) at that time.
In addition, P2P trading within Hungary also peaked in the week of January 19, reaching the fifth strongest level ever against the country’s fiat currency. The commercial volume achieved in the week in question is around $19,750 thousand.
Looking at the Turkish lira chart, a similar situation is seen in our country. Looking at the Turkish LocalBitcoins market, it can be seen that the market has experienced its strongest week since November 2017 and a trade of 35 BTC took place.
Latin America leads the way for LocalBitcoins volume, and Venezuela is definitely leading the way. Venezuelan LocalBitcoins volume, which broke a record in December 2018, revealed that it still has not lost anything in this record with 1,806 BTC in the current week.
LocalBitcoins platforms, which are used especially in regions where there are problems with crypto currency trading, also mean that crisis bells are ringing for some countries.
