Trading volumes on LocalBitcoins

12일 전

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Recent events in Venezuela forced people to buy so much crypto, that it reached the second position in terms of trading volumes on LocalBitcoins.
Is it safe to assume that people resort to crypto in difficult economic situations?

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Bitcoin exchange volume Venezuela Week 02/04 /2019- 02/ 04/2019 = 2485 BTC

Equivalent to: VES 24,344,000,000 (Bolívares Soberanos) or VEF 2,434,400,000,000,000 (Bolívares Fuertes)

Average Price per Bitcoin: BTC / VES: 9,796,563.26 ( Bolivares Soberanos) or BTC / VEF: 979,656,326,000 (Bolivares Fuertes)

Average price of Bitcoin BTC / USD: $ 3618,466

It is with these data that the calculation of the VES / USD exchange rate is made, by dividing the Bitcoin price in Bolivares between the price of the Cryptocurrency in USD

Implicit Average VES / $: 9,796,563.26 / 3618,466 = 2707.38 VES / $

This means that in terms of dollars, the localbitcoin Venezuela market had a volume of: USD 8,991,718.93, higher than the United States Market in localbitcoin where USD 8,435,655.00 were exchanged.

In terms of bitcoin Venezuela was surpassed only by Russia in exchange volume, with 3853 BTC