Thursday , May 26 2022

Blackout in Venezuela falls the exchange volume at LocalBitcoins CryptoNews



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Transactions in LocalBitcoins significantly rejected during the allotment in Venezuela during the last 70 hours. The platform users have set themselves among the first places with the highest bitcoin exchange volume in the world, which is why.

The general deposit tested by the Latin American country since March 7 in the afternoon, without reliable versions of cases, The record was demolished in USD 183,304, which equates to 48 BTC, on the 8th, having maintained an average of USD 1 million exchanged daily in recent months.

During the last quarter, the trading volume on the stage remained above 1,800 BTC per week. According to the Coin Dance figures, it recorded the week ending 9 February, 2019 a volume of 2,847 BTC.

During most of March 8, an intervention was placed on the power supply. The volume reached the lowest exchange since January 2019. Source: yadio.io

The government versions of Nicolás Maduro suggest that sabotage has occurred, but this information has not been proven. Venezuela's electricity system depends on a central organization of the name Corpoelec, who has so far offered objective explanations for the blame, having spread through the national territory, in some states for more than 69 hours.

NetBlocks.org, an Internet observatory, shows that connectivity and distribution of electrical power into the Venezuelan territory has reduced by 80% over the past three days. The economic impact of this event could be more than one billion dollars. During the worst of the crisis, only 2% of the territory was associated with electricity sources, suggesting the establishment.

The power supply dropped to 20% of capacity. Source NetBlock.org

In Venezuela, LocalBitcoins users exchanged a volume of 8,311 BTC in February, a similar figure to January, equivalent to more than 32.3 million dollars in the United States. Along with Colombia, they account for 80% of the volume in the region.

Venezuelans experience one of the greatest political and economic crises in their history, so they have taken advantage of the use of bitcoin as a way of protecting the value of their money and escaping fuel.

Image delivered by mario beauregard / stock.adobe.com

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