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Report: LocalBitcoins is witnessing the lowest levels of buying and selling bitcoin

Report: LocalBitcoins is witnessing the lowest levels of buying and selling bitcoin

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Answer Report: LocalBitcoins is witnessing the lowest levels of buying and selling bitcoin

A report by Coin.dance indicated that the first week of September saw an all-time low for bitcoin buying and selling among individuals on the LocalBitcoins platform.

knowing that LocalBitcoins . platform It is one of the platforms dedicated to buying and selling bitcoin between individuals, designed on the principle of peer-to-peer (P2P), and provides customers with multiple payment options such as bank transfer, credit cards and others.

The massive lull in Bitcoin trading activity was witnessed in most of the LocalBitcoins market, with only 6 countries reporting similar trading volume in recent weeks.

Coin.dance data stated that only 864 bitcoins were traded during the first week of September on LocalBitcoins, the lowest number ever in the past five and a half years.

Read:Finance Minister: Digital currencies are the solution to the paper money crisis in Zimbabwe

Weekly Trading Volume (in Bitcoin)

Weekly Trading Volume (in USD)

Note that the lowest recorded trading by Coin.dance was during the month of March 2013, when 1995 bitcoins were traded at that time.

The report stated that 6 markets recorded similar trading volumes in recent weeks: Croatia, the Czech Republic, Morocco, Iran, Poland and Venezuela.

It is worth noting that the state of Venezuela, which is witnessing severe inflation recently, recorded a huge increase in the buying and selling of Bitcoin within the country. The weekly trading volume increased from 6 trillion bolivars to 24 trillion bolivars.

Read:An Ethereum user spent $9,300 in fees to send $120

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