Record Drop in Localbitcoins P2P Trade Volume
The 1st week of September has comprised the weakest on record for global P2P trade volume on Localbitcoins. The considerable lull in trading activity seems to have pervaded across the vast majority of Localbitcoins markets, with only 6 national markets posting volume that is comparable to the trading activity experienced in recent weeks.
Record Low for Localbitcoins Trade Volume
Data claims that only 864 BTC were traded during the week of the 8th of September on Localbitcoins – the lowest on record in the five and a half years in which the company has been compiling data when measuring in BTC.
Until now, the lowest week recorded had been the 1st in which it began publishing data for Localbitcoins trade volume – which saw 1,995 BTC exchange hands during the week of the 16th of March, 2013. When measuring in USD, the week of the 8th of September comprises the weakest 7 days of trading on Localbitcoins since the 31st of January, 2015 – which saw $5.871M worth of BTC change hands, then equating to 24,785 BTC worth of trade.
Localbitcoins Markets Post Dramatic Decline in Trade Volume
If the current data is accurate, the majority of national Localbitcoins markets saw a drastic decline in the number BTC traded during this past week. Of the 48 fiat currencies traded on Localbitcoins only 6 P2P markets – those of Croatia, the Czech Republic, Iran, Morocco, Poland, and Venezuela – have posted volume trade volume for the 8th of September, 2018 that is comparable to the volume of recent weeks.
Transversely, the Localbitcoins markets of Argentina, Australia, Brazil, Canada, Chile, China, Colombia, Denmark, Dominican Republic, Egypt, Europe, Hong Kong, Hungary, India, Indonesia, Japan, Kazakhstan, Kenya, Malaysia, Mexico, New Zealand, Nigeria, Norway, Pakistan, Peru, Philippines, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Sweden, Switzerland, Tanzania, Thailand, Turkey, Ukraine, United Arab Emirates, United Kingdom, USA, and Vietnam all appear to have experienced dramatic declines in P2P trade volume.