Venezuela exchanges more than 1.5 million dollars last week LocalBitcoins

Bitcoin in bolivars LocalBitcoin trading in the market has led Venezuela to overcome for the first time the mark of the US $ 1.5 million recorded during a week, according to figures published in late July to the corner operations of the website dance.

At the end of June, the first thing that managed to break the million dollar barrier in this area, given the fact that it is one of the most active markets for buying / selling Venezuelan bitcoins. 50% reported jump in less than six weeks from the previous record, seems to be driven by the growing adoption of cryptooneda key ecosystems. On the other hand, the need for many Venezuelans access through a variety of mechanisms for positions in foreign exchange or exchangeable that protect their resources to the strong devaluation of the local currency.

As measured by the measurement of LocalBitcoin operations for the Venezuelan indicator, between July 29 and August 5, an application for bitcoins equivalent to more than 16.94 billion bolivars was registered. To the rhythm of the unofficial exchange market, this number exceeds the mark of 1.5 million dollars now.

Keep in mind, however, that these House Data Change Level also depends on distortions that reflect the little transparent black market of dollars in the country. In recent days, during the current week, the price of the dollar on the streets of Venezuela showed a rapid contraction of more than 50%. This is partly explained by a correction of the estimated value after reaching record levels last week, it can save a psychological effect that led to the purchase of bitcoins as a value protection mechanism.

BTC measurement, the maximum demand recorded was 425 units so far, not the most historical acquisitions in this market in the Venezuelan Cryptomoneda. Dance Corner reports that in the first week of April 736 purchases were recorded in Venezuela by LocalBitcoin at most recent.

At the regional level, Venezuela remains a relevant market, given the behavior of the application to other countries in the region where the volume of transactions increases every day. At present, demand in Brazil for a significant contraction peaks in May, while maintaining operations in Argentina recorded its best effort.

Chile, meanwhile, shows an increasing adoption curve is reflected in the increase in trade with slight setbacks in recent weeks. Likewise, countries such as Colombia, the Dominican Republic, Mexico and Peru also tend to have greater potential for sustainable development and growth in Bitcoin's demand.