ANNOUNCEMENT! We're excited to share that The Block Pro, a portfolio of research, news and data products in one easy-to-use platform, launches later this month. Reach out to your account manager for more information about products and subscription options.
LocalBitcoins volumes give a good insight into bitcoin demand in a specific country
Coin Dance aggregates LocalBitcoins data but still misses important features such as volumes in USD, demographic breakdown, and weighting by population
Russia is dominating LocalBitcoins volumes with 26.5% trailed by Venezuela (12.2%) and the U.S. (11.8%)
If LocalBitcoins volumes are indicative, the importance of developing countries in the Bitcoin ecosystem is quickly growing
In 2013, 90% of all volume was coming from the U.S., UK, and Australia. Now, the three share a mere 19%
Footnotes
Join The Block Research for exclusive research like this
Gain access to this research piece and 100s of others, including ecosystem maps, company profiles, and topics spanning DeFi, CBDCs, banking and markets. Together with additional services, we help organizations understand what’s happening in the rapidly developing digital asset ecosystem.