Trading volume at LocalBitcoins in China fell to 2017 lows



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Trading volume at LocalBitcoins in China fell to 2017 lows

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Bitcoin trading volumes on the LocalBitcoins p2p platform in China fell to 2017 values, according to CoinDance data.

So, last week, which ended according to CoinDance estimates on January 25, the trading volume reached 4.8 million RMB (about $ 691 thousand), while the previous week it exceeded 8 million (more than $ 1.1 million).

As can be seen from the graph, this indicator gradually decreased over several years. The maximum trading volume was recorded in January 2018 – it amounted to 168 million yuan ($ 24.3 million).

The Block analyst Larry Chermak noted that in comparison with 2018 last year, countries such as Egypt, Colombia, Peru, Argentina, Chile and Venezuela showed a significant increase in trading volumes in US dollars. This indicator has noticeably decreased in Hong Kong and Iran.

Growth of LocalBitcoins volume in 2019 vs. 2018

Egypt 🇪🇬 – 69.8%
Colombia 🇨🇴 – 59.8%
Peru 🇵🇪 – 47.7%
Argentina 🇦🇷 – 44.7%
Chile 🇨🇱 – 36.3%
Venezuela 🇻🇪 – 33.2%
Hong Kong 🇭🇰 – (18.5%)
Iran 🇮🇷 – (52.1%)

Previously, LocalBitcoins restricted access to users in several countries due to EU requirements. Now the platform is not available to the inhabitants of Botswana, Ethiopia, Ghana, Libya, Nigeria, Tunisia, Afghanistan, American Samoa, Bahamas, DPRK, Iraq, Guam, Pakistan, Panama, Puerto Rico, Saudi Arabia, Syria, Trinidad and Tobago, Yemen, American Virgin Islands and Sri Lanka.

Trading volume at LocalBitcoins in China fell to 2017 lows



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