The cryptocurrency market continues to grow, especially in Latin America, where despite the sharp drop in prices of most of the tokens, adoption is recording new records as time goes by.
According to data published by the website CoinDance, Peru, Colombia and Venezuela registered new historical records in trading volume at localbitcoins.com, surpassing by a significant margin the figures reported in previous months.
Peru is one of the most interesting markets. The Bitcoin boom has been gaining momentum, especially during the last trimester, registering an increase of more than 41% over the previous period. According to the numbers, the Peruvian market recorded trade of about 553 BTC, which represents approximately 8.5% of the total demand of the region.
These figures represent a growth of 15.2% with respect to September, placing the country in the third place of the most active in localbitcoins.com
Second on the list is Colombia with 1415 BTCs, representing 21.65% of the region’s total. Colombia has maintained its position for the last three months.
Venezuela occupies the first position in the region. The South American country registered a total volume of 3894 BTCs in October, which represents almost 60% of the total trading of all Latin America.
Venezuela About to Become a Worldwide Reference for Crypto Adoption
During the week of October 14 to 20, Venezuela registered a mark of 1064BTC traded, surpassing in 7 days the total of the third most important country in the region in trading volume.
The rest of the markets remained relatively stable. The only market that registered a decline was Mexico, going from 209 to 188, which placed fifth in Latin America. Brazil now occupies the fourth position with 198 BTC.
Globally, Venezuela overtook United States place and is now the second country with more OTC bitcoins exchanged, and although the difference is small (only 28 BTC) the asymmetries between the two countries are important when analyzing the influence of cryptocurrencies in the economy of a country.
Quasi Anti-Bitcoin Russia is the undisputed world king with 8579 BTC, Second and third place go to Venezuela with 3894 BTC and USA with 3866 BTC. China occupies the fourth position with 2620 BTC followed by UK and Colombia with 1876 and 1415 BTC each.