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According to the data provided by LocalBitcoins, a peer-to-peer cryptocurrency trading platform, the weekly volume of Bitcoin in Venezuela achieved a new all-time high. Measured in Bitcoin, the weekly volume of the BTC-to-Venezuelan bolivar (VES) pair increased to 2,454 BTC. In U.S. dollars, that is worth $8.95 million per week and $1.29 million per day. Matt Odell, a cryptocurrency researcher, said that the volume would be higher if the 40 percent premium in the Venezuelan market is priced in. Had the high premium of Bitcoin due to its scarcity in the Venezuelan market been considered, the volume could reach around $14 million at $5,800 per Bitcoin. DEMAND FOR BITCOIN IN VENEZUELA IS SKYROCKETING Full story

12 February