RATE Group | LocalBitcoins Hits a 7-Year Low of Weekly Traded Bitcoins
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LocalBitcoins Hits a 7-Year Low of Weekly Traded Bitcoins

02 Mar LocalBitcoins Hits a 7-Year Low of Weekly Traded Bitcoins

Posted at 21:24h in Bitcoin News by

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Popular peer-to-peer (P2P) crypto trading exchange LocalBitcoins saw a major decline in Bitcoin (BTC) trading volumes amid apparent user uncertainty.

According to data from Bitcoin (BTC) statistics website Coin Dance, global Bitcoin trading volumes on LocalBitcoins exchange have touched a seven-year low during the week ending on Feb. 22.

BTC trading volumes drop from 13K bitcoins in February 2019 to about 3K in 2020

During the weekly period, LocalBitcoins traded just 3,144 bitcoins, or around $28 million at press time, which is the lowest weekly trading amount since May 2013.

The new historical low of Bitcoin trading volumes on LocalBitcoins came amid a massive decline since last year. As such, LocalBitcoins traded about 13,000 bitcoins per week in February 2019, according to Coin Dance. In comparison, the biggest amount of Bitcoin that was ever traded in a week on LocalBitcoins accounts for 39,137 bitcoins.

Weekly LocalBitcoins trading volumes in Bitcoin. Source: Coin Dance

Weekly LocalBitcoins trading volumes in Bitcoin. Source: Coin Dance

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