Bitcoin Trading Volumes Hit New High for Philippine Peso on Paxful
Weekly trading volumes of bitcoin in Philippine peso have steadily increased on Paxful this year and finally hit a new high in July.< /p>
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Despite some level of regulatory uncertainty surrounding cryptocurrency in the Philippines, one platform has recently seen a massive influx of Bitcoin (BTC) trading activity.
Bitcoin trading volumes in the Philippines have been increasing over the past few months on leading peer-to-peer (P2P) crypto exchange Paxful.
According to data from bitcoin tracking website Coin Dance, trading volumes of bitcoins denominated in Philippine peso (PHP) have recently been increasing steadily on Paxful and finally hit a new high in July.
Paxful's bitcoin trading volumes peaked at PHP 111 million ($1.9 million) in the week ending July 9, 2022. This was the highest amount of PHP never redeemed for Bitcoin on Paxful.
Weekly Bitcoin Transaction Volumes from Paxful in PHP . Source: Coin DanceThe actual amount of Bitcoin traded on Paxful for PHP this week was 92 BTC, down slightly from the previous week ending July 2.
A noticeable influx of BTC transactions began in early May, with Bitcoin transaction volumes more than doubling over a period of several months. In early May, Paxful's weekly BTC transaction volumes in the Philippines were around 40 BTC.
Despite the recent surge in BTC transaction volumes, the number of Bitcoins traded per week on Paxful in the Philippines has yet to surpass the record weekly volumes of 111 BTC released in August 2020.
Paxful Bitcoin Weekly Trading Volumes in the Phillippines. Source: Coin DanceThe rise of Bitcoin trading on Paxful in the Philippines began amid a massive downtrend in cryptocurrency markets, with Bitcoin losing around 50% of its value since the beginning of May. BTC transaction volumes in PHP increased further on Paxful after
Weekly trading volumes of bitcoin in Philippine peso have steadily increased on Paxful this year and finally hit a new high in July.< /p>
New
Despite some level of regulatory uncertainty surrounding cryptocurrency in the Philippines, one platform has recently seen a massive influx of Bitcoin (BTC) trading activity.
Bitcoin trading volumes in the Philippines have been increasing over the past few months on leading peer-to-peer (P2P) crypto exchange Paxful.
According to data from bitcoin tracking website Coin Dance, trading volumes of bitcoins denominated in Philippine peso (PHP) have recently been increasing steadily on Paxful and finally hit a new high in July.
Paxful's bitcoin trading volumes peaked at PHP 111 million ($1.9 million) in the week ending July 9, 2022. This was the highest amount of PHP never redeemed for Bitcoin on Paxful.
Weekly Bitcoin Transaction Volumes from Paxful in PHP . Source: Coin DanceThe actual amount of Bitcoin traded on Paxful for PHP this week was 92 BTC, down slightly from the previous week ending July 2.
A noticeable influx of BTC transactions began in early May, with Bitcoin transaction volumes more than doubling over a period of several months. In early May, Paxful's weekly BTC transaction volumes in the Philippines were around 40 BTC.
Despite the recent surge in BTC transaction volumes, the number of Bitcoins traded per week on Paxful in the Philippines has yet to surpass the record weekly volumes of 111 BTC released in August 2020.
Paxful Bitcoin Weekly Trading Volumes in the Phillippines. Source: Coin DanceThe rise of Bitcoin trading on Paxful in the Philippines began amid a massive downtrend in cryptocurrency markets, with Bitcoin losing around 50% of its value since the beginning of May. BTC transaction volumes in PHP increased further on Paxful after
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