The peer-to-peer (P2P) markets saw a surge in trade activity this past week, with the Localbitcoins markets of five countries posting record volume. The largest spikes were concentrated in the Latin American and Asian regions, however, the United States also posted its strongest monthly P2P volume since April 2018.
Indonesian P2P Volume Increases by More Than 10x in One Week
Localbitcoins trade between the Indonesian rupiah (IDR) and BTC saw a dramatic spike in activity this past week, with volume increasing from 10 BTC during the week of Feb. 2 to 102 BTC during the week of Feb. 9.
When measured in fiat currency, this past week saw more than 4.5 billion IDR (approximately $364,600) worth of BTC changing hands. The week of Feb. 9 comprised the strongest week of Indonesian Localbitcoins trade on record when measured in both fiat and cryptocurrency.
South Korean P2P Trade Activity up 125%
Localbitcoins trade between the South Korean won (KRW) and BTC posted a new all-time high for trade volume this past week, with 132.33 million KRW worth of cryptocurrency (nearly 3.16 million) changing hands.
When measured in cryptocurrency,