LocalBitcoins Peer-to-Peer Crypto Trading Volume Hits Record Lows According to Coin Dance

Bitcoin Peer-to-Peer Trading Volume Hits Record Lows

Ever since Local bitcoins started tracking the global peer-to-peer trade volumes of Bitcoin, the first week of September 2018 has returned the worst performance, as per Coin.dance. Seemingly, the significant dip in Bitcoin trading is a widespread trend, with only a few of the many markets tracked by Localbitcoins posting a volume that is at par with their normal trading activities over the past weeks.

Precisely, the data posted by Coin.dance reports that a paltry 864 BTC were traded over the first week of September, ending on September 8, 2018. This is the lowest ever trading volume since Localbitcoins started compiling data on BTC trading over five years ago. Before this, the record for the lowest BTC trading volume was the first week when Localbitcoins started keeping records in mid-March 2013. Back then, the trading volume was 1,995 BTC. When converted into dollars, last week’s appalling performance is the worst since the last week of January 2015, when $5.9 million (24,785 BTC) was traded.

Going by the statistics published by Coin.dance, it is apparent that a majority of markets followed by Localbitcoins underwent a drastic decline in the volume of BTC traded over the past seven days. As mentioned earlier, only six of the nearly fifty fiat currencies that are tacked by Localbitcoins recorded trading volumes that is comparable to their averages in recent weeks. These countries include Venezuela, Croatia, Poland, Iran, the Czech Republic, and Morocco. Contrariwise, most of the remaining 42 countries experienced a radical decrease in P2P Bitcoin trading.

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Avatar
Bitcoin Exchange Guide News Team
B.E.G. Editorial Team is a gracious group of giving cryptocurrency advocates and blockchain believers who want to ensure we do our part in spreading digital currency awareness and adoption. We are a team of over forty individuals all working as a collective whole to produce around the clock daily news, reviews and insights regarding all major coin updates, token announcements and new releases. Make sure to read our editorial policies and follow us on Twitter, Join us in Telegram. Stay tuned. #bitcoin

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

LEAVE A REPLY

Please enter your comment!
Please enter your name here

3,485FansLike
2,795FollowersFollow
4,262FollowersFollow

Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

VeChain Joins China Animal Health and Food Safety Alliance (CAFA)

VeChain has joined the China Animal Health and Food Safety Alliance (CAFA) as one of its council members and will be providing them technical...

Coinbase Pro to Pass the Rising Network Fees Onto The Customer During Withdrawals

The launch of UNI, the governance token of Uniswap DEX, is having a big impact on the Ethereum network. The good thing is the price...

Homeland Security Calls On Freelancers to Design A Digital Wallet Interface; $25k to Finalists

The Science and Technology Directorate (S&T) division of the US Department of Homeland Security has allocated up to $25,000 in prizes as an...

BoE Explores Negative Rates; Bitcoin Is A ‘Must' Because Fiat is a ‘Giant Ponzi Scheme'

The Bank of England (BoE) is exploring negative interest rates now and in response Sterling weakened sharply. The pound dropped 0.7% against the dollar after...

Nexus Mutual Sees Active Cover Growing 10x, Now Token Price ‘Directly Linked to Adoption'

“DeFi is developing faster than you can say ‘protect me from the risks in DeFi’,” said Kayleigh Petrie, Director of Engagement at Nexus Mutual,...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today