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Latin American Markets Post Record P2P Volume in April

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While Localbitcoins trade volumes have receded globally since the platform’s KYC overhaul last year, Latin American trade has continued to surge.

Amid declining global volume, Localbitcoins.com continues to comprise a hub for Latin American peer-to-peer (P2P) trade — with Argentina, Chile, and Venezuela posting record volume over recent weeks according to Coin.dance.

This past week saw Localbitcoins trade between Bitcoin (BTC) and the Mexican peso spike by 71%. As such, the week of April 25 saw roughly $430,000 worth of BTC change hands in Mexico — comprising the fourth-strongest weekly trade activity on record.

Latin markets post record volumes during April

Argentinian P2P trade rallied to post a new record of more than $710,000 in weekly volume during the week of April 18. The past week has seen a slight retracement in volume, with $670,000 worth BTC changing hands.

Colombian trade has also rallied to test all-time high volume thresholds this past month — with the week of April 4 producing the market’s second-strongest seven days of trade with $2.7 million in volume. The following weeks have seen volume oscillate between $2.1 million and $2.6 million.

The week of April 4 saw record volume coming out of Chile. with nearly $400,000 in trade. The record followed months of consistently increasing volume, and has been preceded by weekly trade activity worth between $280,000 and $325,000.

Venezuela posts consecutive volume records

This past week saw Venezuelan trade on Localbitcoins post a new record for volume with $4.1 billion worth of BTC changing hands in seven days.

The week comprised the fourth consecutive record for Venezuelan weekly trade since the start of April.

Source

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