Latin American countries exchange more local currency for Btc in Localbitcoins.
Movements of Latin countries in local currency through LocalBitcoins have grown in recent weeks, in line with the increase that has been the price of BTC in the market, which went from USD 4,130 at the beginning of April to USD 5,203 at the time of writing this note.
In CoinDance data, it can be seen that most Latin American countries maintain a pace in April that foresees increases compared to the previous month, in terms of the amount of local currency used in the P2P site.
One of the most striking cases is the Colombian. Last week, the Neo-Granadian nation registered a historical exchange maximum in local currency when exceeding 9,000,000 pesos, and mobilized 650 BTC, 110 less than its historical maximum. For its part, Chile approached its peak of 243,000,000 pesos, while the 73 BTC traded represent almost half of its peak, of 143 in 2015.
Argentina has traded more than 29,000,000 pesos in the month of April, while in March the total was 35,000,000. Up to this time in April, some 139 BTCs have been exchanged from Argentina. The previous month, the total was 198 BTC.
Another case of a large increase, such as that of Venezuela, does not correspond to an increase in the volume of BTC mobilized. This week alone, more than 31,000,000 bolivars have been moved through the portal (5,000,000 more than the previous full week), although the volume in BTC is still below the 1,596 BTC registered last week.
In the Caribbean country, precisely, there was a sudden rise of the official dollar and the parallel. The rate set by the Venezuelan government went from 3,300 Bs. To 4,100 according to the last auction, while in the parallel market exceeded Bs. 5,000. This explains the increase in bolivars traded despite a lower volume in BTC.
However, other countries with more stable currencies have also registered higher amounts exchanged in local currency through the P2P site so far this month. Mexico went from 92 BTC last week to 106 so far this week. This translates into an increase of 8,600,944 Mexican pesos to 10,766,731.
Another example is the Dominican Republic, where between the last two weeks some 13,000,000 pesos have been mobilized, above the 11,000,000 that were moved during the previous two weeks. In both periods, the amount of BTC traded has been very similar: 55 and 51 BTC, respectively.
In Brazil almost 200 BTC have been traded in the last two weeks, a figure very similar to the two previous weeks. Although, there is an increase in Brazilian reais between those periods. During the first, 3,000,000 were not moved, but in the last two, more than 3,600,000 reais have been traded.
Among the cases with a decrease in the exchange levels, Peru stands out. During this week the Peruvians have traded 162 BTC, while last week they were 219. This represents a drop also in local currency, from almost 3,500,000 soles to 2,767,584.
The month of March presented a general decline in the exchange through LocalBitcoins in the Latin American region. Especially, as a result of the electric power cuts that occurred in Venezuela and its consequent reduction of more than 2,000 BTC with respect to February.
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