Volume of Bitcoin Trades Continues Surge in Brazil
Volume of bitcoin trades in Brazil increased rapidly in Brazil since May. Over the last few months, the volume of all bitcoin trades have risen from US$1.65 million to US$2.6 million, showing a 158 percent monthly increase in trading volumes across all exchanges. In August, Mercado Bitcoin, the largest bitcoin exchange in Brazil alone has processed 28.48....
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While most of the financial headlines in the past few months have focused on the Greek debt crisis, another type of cash crunch has been going on in Latin America as well. Apart from Argentina, Brazil has also suffered a huge blow to its currency and capital flows, rendering bitcoin trades as an alternative form of investment. Brazil has benefitted from the boom in commodities last year and is currently paying the piper now that oil and gold have been dropping. To make things worse, political turmoil doesn't seem to have subsided in the country yet, limiting the profit opportunities for....
Another day, another bit of unusual trading activity on a Bitcoin exchange. As the Bitcoin price began to drop around 1 AM EST last night, at least one trading bot on BTC-e began to make some interesting trades. It seems that the trading bot has been caught in an endless loop, as it continues to either trade back and forth with itself or with other bots on the exchange. The unfortunate trading activity was first pointed out by Reddit user /u/nobodybelievesyou on /r/BitcoinMarkets. The details behind the bot or bots associated with this increase in trading volume are unknown at this time,....
The popularity of cryptocurrencies in economically embattled Turkey has continued to surge with the number of daily trades now surpassing one million, a report has said. This surge in trades has been attributed to the depreciating lira which plunged to a new low against the USD on December 20. Lira Plunges Cryptocurrency trades in inflation-stricken Turkey have surged to above one million per day for the first time since March, a Reuters report citing Chainalysis and Kaiko data has said. According to the report, the return to over a million trades per day has come at a time when....
Is the high inflation rate of 9.6 percent the reason people are turning to Bitcoin in Brazil? The simple answer is no. Recent statistics and infographics published by global bitcoin payment processor BitPay revealed that the volume of bitcoin transactions in Latin America has increased by 120 percent, and almost doubled in quarterly transactions. Many analysts suspected that the high inflation rate and unstable economy of Argentina and Brazil have caused a surge of growth in Latin America's bitcoin industry. While this may be true for Argentina, a country where the majority of the....
The Bitcoin trading volume observed a surge earlier as the price of the crypto crashed below $40k. However, the metric has now once again come back down as the coin has become calmer. Bitcoin Trading Volume Sharply Declines Following A Brief Uplift As per the latest weekly report from Arcane Research, the BTC trading volume […]