During last month, Venezuela experienced a high volume of Bitcoin transactions, following the relaunch of the country’s oldest and first Bitcoin exchange, Surbitcoin. Venezuelans now have two more local bitcoin exchanges to choose from: Yabit, and Cryptobuyer.
Bitcoin transactional volume keeps growing in the Latin American country, according to several data sources (including coin.dance and our own research) the amount of bitcoin transacted in the several markets available to Venezuelans have experienced a spike.
Venezuela is a country with triple-digit inflation, capital controls, devaluation, and goods shortages. This critical scenario has been the driving factor for bitcoin adoption in Venezuela for the past 3 years. Localbitcoin’s weekly volume reveals this exponential growth. Approximately $150,000 has been transacted through the platform by Venezuelan customers.
The biggest Bitcoin exchange in Venezuela, Surbitcoin, is also another major factor for the increase in liquidity. The 24-hour volume is constantly reaching the 30 BTC mark.