Ther have been volume spikes across miscellaneous markets in recent weeks in local bitcoins trading volume. This resulted in the global volume bouncing to $75 million USD this past week. The Canadian and European markets produced anomalous spikes in trading activity. Both produced record volume this past week.
EUR/ BTC’s prior volume record was of approximately $9 million EUR. However, trading on Local bitcoins smashed this record. Nearly $11.5 million EUR worth of BTC changed hands this week. Since March 2016, the trade volume of 1,617 BTC is the largest number of bitcoin exchanged in a single week in the EUR/BTC market.
It is the third time in three weeks, that the Canadian peer-to-peer (P2P) markets have set a new record for trade volume. $8 million CAD worth of bitcoin exchanged hands. During the week of the 10th of March, CAD/BTC trade was almost $1 million more than the previous record of $1.475 million. It was valued at nearly $2.5 million CAD. Then again we saw the volume fall back to $1.6 million in the week of the 17th of March. The trade ramped up again, during the week of the 24th of March, to set a new record of over $5 million.
When measuring trade in bitcoin, last week’s volume of 904 BTC set an all-time record. It beat the previous high, from the week of the 30th of May, 2015, of 706 BTC.
A Number of P2P Markets Produced Surged in Recent Weeks
Other countries like Indonesia, Tanzania, Venezuela, Mexico, and Peru have performed well in trade between local money and bitcoin.
A record volume of $580 million IDR was produced by the trade between the bitcoin and Indonesian Rupiah (IDR). This was on Localbitcoins during the week of the 17th of March.
The same week of the 17th of March saw Vietnamese P2P trading experience its second highest volume ever. The volume increase to $3.725 billion VND due to a sudden rush in trading.
Localbitcoins trade between bitcoin and the Mexican Peso surged at the start of the month, with record volume $10.6 million MXN being recorded for the week of the 3rd of March.
Tanzania’s Localbitcoins market also saw its third highest weekly volume ever this week. $90 million TZS worth of bitcoin changing hands.
The weekly global trading volume on local bitcoins has bounced to $75 million (8,586 BTC), following spikes in volume across several markets during the week of the 31st of March.