According to data provided by monitoring resource Coin Dance, bitcoin trading has skyrocketed in two South American countries over the last 7 days that ended last Saturday.
Particularly, the trading of the largest cryptocurrency by market cap has peaked in Argentina after the country's central bank banned bitcoin purchases.
According to data from Coin Dance, which refers to statistics from crypto exchange platform LocalBitcoins, during that 7-day period, Argentina's residents traded 19.4 million pesos. However, if we consider the amount of bitcoins traded, this figure is not as impressive ($263,000 or 30 bitcoins) as a result of the devaluation the national currency.
For its part, the trading volume has also climbed in Venezuela, another country that is suffering serious economic problems. 142.9 billion sovereign bolivars (627 BTCs or $5.5M) have been traded during the same period.
This increase in the purchase of bitcoins coincides with the ban on their purchase imposed last week by the central bank of Argentina.
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