RATE Group | Argentina Sets New Trading Record After Central Bank Bans Bitcoin Buys
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Argentina Sets New Trading Record After Central Bank Bans Bitcoin Buys

11 Nov Argentina Sets New Trading Record After Central Bank Bans Bitcoin Buys

Posted at 08:56h in Bitcoin News by

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Bitcoin (BTC) trading set new records in two of its most keenly watched South American markets last week, new data has revealed.

As monitoring resource Coin Dance confirmed on Nov. 10, the seven days ending Saturday saw more trading against BTC than ever before in both Venezuela and Argentina. 

Argentina: central bank accidentally increases Bitcoin popularity

Venezuela Localbitcoins weekly trading history

Venezuela Localbitcoins weekly trading history. Source: Coin Dance

Argentina Localbitcoins weekly trading history

Argentina Localbitcoins weekly trading history. Source: Coin Dance

The statistics cover peer-to-peer platform Localbitcoins, which despite increasing user identification demands continues to see patronage in the two troubled economies.

In total, Venezuela traded 142.9 billion sovereign bolivars (VES) last week, while Argentina managed 19.4 million pesos (ARS). Both are firm records over previous levels.

In Bitcoin terms, however, the trading period did not see a noticeable uptick in volume, proof that both countries’ currencies are continuing to weaken. Venezuela…

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