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Saudi Arabia and The Dominican Republic Saw Record LocalBitcoins Volumes Last Week

It is always interesting to check the weekly LocalBitcoins volume charts. As it turns out, the Dominican Republic and Saudi Arabia show a renewed interest in bitcoin.That is quite an intriguing development,  considering neither country is high up on the list of pro-bitcoin regions. Other platforms are seeing good volumes as well in different regions. There is no denying demand for bitcoin is growing every week and will continue to do so for some time to come.

LocalBitcoins has always been a popular bitcoin trading platform. Every country in the world seemingly has its own peer-to-peer trading market for bitcoin right now. Consumers looking for alternative investment solutions will often stumble upon LocalBitcoins. With no centralized exchange to go through, in-person bitcoin trades have become the new norm in some parts of the world.

LocalBitcoins Brings All Countries To The Bitcoin Yard

As a result, Saudi Arabia is one of the countries where LocalBitcoins volume is seemingly spiking. A new weekly record has been recorded, representing just over 400,000 SAR. A similar trend occurs in the Dominican Republic , where a new record is recorded as well. This is quite interesting, considering the previous two weeks showed a steep decline in LocalBitcoins trading volume. Peer-to-peer exchange platforms are gaining popularity, that much is certain.

Interestingly enough, the USD volume on LocalBitcoins shows bullish behavior as well. The third-largest weekly volume record has been recorded last week. This goes to show USD traders are moving away from centralized exchanges as well. That is a good thing, though, as bitcoin is designed to be traded in a peer-to-peer fashion. Additionally, the USD trading volume on Paxful set its second-highest record as well.

Speaking of Paxful, two other countries are showing an increased interest in bitcoin on this platform. Both Hong Kong and India set new weekly trading records. Quite a significant development, especially given the recent bitcoin legality debacle in India. Hong Kong has always been relatively quiet on the bitcoin front, yet that situation may come to change soon.  

It is always worth keeping an eye on these platforms and their respective trading volumes. Demand for bitcoin will only go up as more time progresses. It also shows different markets respond in different manners regarding any mainstream bitcoin news. It will be interesting to see whether or not new weekly volumes will be recorded on LocalBitcoins and Paxful next week.

Header image courtesy of Shutterstock


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