The volumes of p2p-trading of bitcoin in developing countries are growing.
In 2020, p2p-markets of cryptocurrency trade demonstrated dramatic growth, and India particularly highlighted among developing markets.
According to Useful Tulips, many developing markets have set new records on weekly bitcoin weekly p2p trade, which should also be noted by Philippines, Argentina, Mexico and Egypt.
India ended up being the strongest market to put a new trading record of $ 3,4 million trading activity. For the past seven days.
Indian p2p markets started gaining momentum from the II block, breaking last month's weekly record of $ 2,95 million. December 2017, and showing weekly levels at least $ 3 million.
Africa
Last week, the rapid growth of p2p-markets of bitcoin in Nigeria led to a record-breaking trade rate of $ 10 million.
CEO of Paxful Ray Yusef noted that since the beginning of the year Ghana and Kenya have respectively ranked II and III places in the amount of bitcoin trading among African countries. Until the amount of bitcoin trading in Ghana exceeds $ 1 million.
Latin America.
Over the past three weeks, Argentine p2p markets have also shown record weekly bitcoin trade volumes. If the record was $ 585 in June, the weakest week of July showed a significant $ 000.
P2p-market nearby Mexico has also recorded its first record in the last 13 months - a $ 692 Mexican pesos trade volume for the Mexican pesos in the last week.
Phillipines.
In recent months, p2p trade in the Philippines has also increased dramatically. If in 2019 and the first months of 2020, the volume of weekly trade in the country did not exceed five figures, then, since May, the volumes were constantly at $ 500, and last week the rate reached $ 000 1 million.
Egypt recently also showed record p2p activity, proving its weekly bitcoin trade volume to $ 700.
The rate of Bitcoin is fluctuating these days in the Market. But it has benefitted in terms of the values of the currency. Thank you for this useful information.