Bitcoin Demand Reaches Record Level in Venezuela

Last week, a local commentator called Dash’s nationwide development a “hoax”. Thus, the issue of Bitcoin’s trade volume in Venezuela, which has been well worn out recently, has been brought up again.

Gomez: Nobody Uses Dash for Payments

Observation site Coin Dance and peer-to-peer (p2p) trading According to data collected from platform Localbitcoins, a total of 898 BTC and 877 BTC changed hands on the weeks of September 22 and September 29, respectively.

Purse.io supporter Eduardo Gomez, who commented on the data, described the change in the past two weeks as “huge”.

Gomez became known for his observations of Venezuela’s Bitcoin (BTC) habits ($6571.78 -0.01%) and dismissed reports stating that the altcoin Dash is an alternative currency to refer to anywhere in South America.

When asked about his thoughts on Dash, whose local rollout allegedly surfaced in the cryptocurrency media recently, Gomez replied:

“Scam. Nobody around here uses Dash for payments.”

https://twitter.com/Vince102tw/status/1047313209974304768

Bitcoin Continues to Grow

In late August, days after the reform of Venezuelan president Nicolas Maduro and the creation of the new and hotly debated currency, the Sovereign Bolivar, Dash Core Group CEO Ryan Taylor told Business Insider that Sovereign Bolivar is now the altcoin’s “second

“We see tens of thousands of cryptocurrency wallets downloading from the country every month.”

“Earlier this year, Venezuela became our second largest market, surpassing China and Russia, which are very interested in cryptocurrencies.”

Meanwhile. Speaking of Bitcoin, it is worth noting that it has the highest seven-day trading volume that Venezuelans have ever seen, according to data taken a month after the currency reform.. These numbers even surpassed the 805 BTC increase in April.

There are doubts about the new bolivar and its relation to Venezuela’s state-backed cryptocurrency Petro.. As Bitcoinist reported, backing the token by oil reserves seemed pointless from the start.. Because the state oil company, PDVSA, cannot pay its debt of 45 billion dollars, which is much more than the market value of Petro’s 5.9 billion dollars. like and join our Telegram channel!

Bitcoinist-Wilma Woo

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