Venezuela Bitcoin Trading Record Underscores Fiat Currency Hyperinflation39.6

Venezuela transacted more hyperinflated bolivars for bitcoins than ever before last week — but actual Bitcoin (BTC) volumes still decreased.

Data from monitoring resource Coin.Dance — which tracks trading volumes on P2P platforms Localbitcoins, Paxful, and Bisq — shows total volumes in Venezuela on Localbitcoins reached 35.9 billion sovereign bolivars (VES) for the week ending April 27. That number marks the highest in history according to the site’s records, the weekly performance squarely beating the previous high of 31.3 billion VES set two weeks prior.

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