Overseas News: Global P2P Market Slows Due to Cryptocurrency Market Collapse

According to the Cointelegraph, the market for peer-to-peer (P2P) trading platforms has declined as the market has risen sharply in the medium term due to the recent decline in the cryptocurrency market. The United States, a major area for peer-to-peer exchange, fell 42% this week, from $ 23.4 million to $ 13.6 million. For most of 2020, sub-Saharan Africa will be the second largest region for peer-to-peer exchange after North America. The region saw a 38% decline in Nigeria's packaging industry this week, down 32% from around $ 12.9 million to $ 8.7 million. The volume of Bitcoin P2P transactions in Asia-Pacific also fell 25% this week. Latin America was the only region with a further increase in P2P trading volume last week, up 11% to $ 13.2 million. 43% of this volume is in Venezuela, accounting for two-thirds of new publications in the region. Colombia, Peru and Chile also increased by 10-20%, while Mexico and Brazil recorded declines. Oddly enough, almost all of the volume drop occurred on the peer-to-peer platform Paxful, with weekly volume increases in all areas sponsored by Localbitcoins (except sub-Saharan Africa). , which saw a volume recovery of 2%).