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Bitcoin Trading in Venezuela Just Hit an All-Time High Despite a 40% Price Premium

Joseph Young
Bitcoin, Venezuela

According to the data provided by LocalBitcoins, a peer-to-peer cryptocurrency trading platform, the weekly volume of Bitcoin in Venezuela achieved a new all-time high.

Measured in Bitcoin, the weekly volume of the BTC-to-Venezuelan bolivar (VES) pair increased to 2,454 BTC. In U.S. dollars, that is worth $8.95 million per week and $1.29 million per day.

Matt Odell, a cryptocurrency researcher, said that the volume would be higher if the 40 percent premium in the Venezuelan market is priced in.

Read the full story on CCN.com.