Hi, guys remember I'm Venezuelan living here updating this week numbers.
We are very far from the 500 BTC weekly we were trading months ago. We are around 300 BTC weekly.
The reason (I think) is the value traded in LocalBitcoin is fixed to USD, so as the BTC price goes up the volume gets down.
The trade volume is constant at around 4,500,000 USD weekly. When we were trading around 500 BTC, price was hovering around 10k. That is why.
Remember, this is only measured by LocalBitcoin (For sure the biggest exchange here).
I'm Venezuelan "living" here, crypto entusiast. A lot of redditors have helped me somehow! I got several moons but sadly had to cash them out.
You can ask me anything!
274 BTC were traded in Venezuela using LocalBitcoin (last week, lowest since 2018), down from 286. That equals 3,585,000,000,000 Bs. (ATH in Bolivares again in Venezuelan currency “VES”), traded volume is a constant USD amount. One BTC is around 18,300,000,000 Bs. Monthly minimum wage is 1.20 USD.
from Bitcoin – The Currency of the Internet