Bitcoin Trading Surges To All-Time Highs Inwards Colombia Despite Stable Peso



Despite the stability of the Colombian peso final twelvemonth against the dollar, which traded betwixt 0.00032 as well as 0.00034 for almost of 2016, the popularity of choice fiscal assets such equally bitcoin has continued to climb amid tech-savvy Colombian citizens throughout 2016, as well as into the outset calendar month of 2017.

Chart from XE.com


Last week, trading volumes on P2P digital currency marketplace LocalBitcoins hitting an all-time high inwards Colombia, according to information compiled past times Coin.dance. Influenza A virus subtype H5N1 full of 366,874,426 Colombian pesos worth of bitcoin trades took house inwards Colombia! At electrical current central rates, this figure amounts to $124,737.



While this figure may non appear overly impressive compared to turnover inwards traditional currency markets, it is an impressive sum when compared against trading volumes inwards Republic of Colombia from Jan of 2016, when 163,446,631 pesos worth of bitcoin trades took house during the entire calendar month on LocalBitcoins!!

In the final calendar week of January, 2017, a novel all fourth dimension high was also recorded inwards the sum of actual bitcoin changing hands on LocalBitcoins inwards Colombia: 139 BTC for the calendar week ending on 2017-01-28; 485 BTC for the entire calendar month of January. These figures dwarf weekly readings observed throughout 2015, when weekly volumes would rarely hand off fifty BTC.



Republic of Colombia is 1 of the few countries where bitcoin trading has grown piece the national currency has been relatively stable. Bitcoin volumes accept also risen dramatically inwards neighboring Venezuela equally the bolivar entered a hyper-inflationary collapse inwards the minute one-half of 2016.

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