Trading volumes at LocalBitcoins fell to a 7-year low

Recently, trading volumes on the popular P2P platform LocalBitcoins have decreased significantly, and the year beforeweek and completely fell to a 7-year low.

Coin Dance analytic site reports that inFrom February 17 to February 22, the trading volume on the site amounted to 3,144 BTC ($ 28 million). This is the smallest result since May 2013. At the same time, just a year ago, weekly trading volumes exceeded 13,000 BTC. The record was 39 137 BTC in October 2015.

</p>

However, despite the fact that trading volumes in BTCsignificantly decreased, if you count in US dollars, the picture will be different. This is due to the growth in the rate of the first cryptocurrency, especially compared to 2013.

However, this year even in US dollars, the volumes decreased almost twice - if in 2019 on average BTC traded in the amount of $ 50 million per week, then in 2020 this figure dropped to $ 30 million.

</p>

The reason for a significant decrease in trading volume onLocalBitcoins may have become users' uncertainty about the future of the site. There have been repeated reports that LocalBitcoins is blocking user accounts without any ads.

Note that in November last year, the Financial Supervision Authority (FSA) of Finland officially registered the LocalBitcoins platform as a virtual currency operator.

</p></p>