Venezuelan living here updating this week numbers!
We are very far from the 500 BTC weekly we were trading months ago. Even lower than 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. If BTC price goes up to 45,000 USD for example, around 100 BTC would be traded weekly.
Remember, this is only measured by LocalBitcoin (For sure the biggest exchange here).
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4,051,000,000,000 Bs. (ATH in Bolivares in Venezuelan currency “VES”) were traded in Venezuela using LocalBitcoin, that is 233 BTC (last week, lowest since 2018), down from 274. traded volume is a constant USD amount. One BTC is around 19,500,000,000 Bs. Monthly minimum wage is 1.20 USD.
from Bitcoin – The Currency of the Internet