Latin American Markets Post Record P2P Volume in April

May 3, 2020 admin

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.