In July, Argentina recorded the highest volume of Bitcoin (BTC) transactions in its market at LocalBitcoins, reaching the equivalent of $220,000 in Argentine pesos for the week of July 7th. Also, the Colombian and Mexican Bitcoin markets showed increases in the same month, maintaining them until the end of July.
In the specific case of Argentina, according to data from Coin Dance, LocalBitcoins reported an abrupt increase in person-to-person transactions in the first week of July, trading a total of 31 BTC under the volume of 6,047,934 Argentine pesos.
Also, throughout July the Argentine market of LocalBitcoins had a slight decrease in the volume of transactions but remained constant between 4 and 5 million Argentine pesos. That is to say, between $100,000 and $180,000, numbers that precede the market increase that the country experienced last June.
On the other hand, Colombia kept its volume rising steadily throughout July, which has been increasing since May 2018, reaching 4,400,000 Colombian pesos in purchase and sale transactions, about 2,000 dollars, for the exchange of a total of 199 BTC.
Mexico also experienced increases in its domestic market, but the volume fluctuated from week to week, ending with the best values of the month with a total of 6,600,000 Mexican pesos for the exchange of 42 BTC. That is a total of $354,627 for the week of July 28th.
Latin American countries increased their Bitcoin (BTC) trading volumes
Latin American countries have generally and consistently maintained the growth of their Bitcoin (BTC) trading volumes for this time of year. For example, in the case of Venezuela, the market volume skyrocketed due to the country’s economic situation, reaching 14 trillion bolivars for a total of 604 BTC for the week of July 21st.
Brazil, which recorded a decline in trade in June, recovered in July with a peak of BTC transactions that reached the volume of 3,201,000 rials, or 128 BTC. That is approximately over $800,000.
In the specific case of Peru, the country had a decrease Bitcoin (BTC) trading volumes in the first week of July, but rebounded in the following weeks, reaching the maximum of transactions for the week of July 21st with more than 3 million soles, about $900,000.
Today, the LocalBitcoins platform has become a tool to calculate the growth of the Bitcoin (BTC) market in Latin America, proving on more than one occasion that the Latin American region is more and more related with the cryptocurrency market.