32 BTC were traded in Venezuela last week (measured only LocalBitcoin)

Hi, just updating last week numbers from https://coin.dance/volume/localbitcoins/VED/BTC

Inflation and devaluation took place last week and monthly minimum wage went from 22 USD to 19 USD, it's fixed in Bolivares (Bs.) and currently it is 130 Bs.

LocalBitcoin trades weekly around 30-35 BTC, government could be behind that volume, impossible to prove but for sure normal people is using it!

There is a big undeground minning community, considering electriciy at least at residential level is technically FREE (like 1 USD for 3 months of service for a house), but it's a risky operation even when it's in theory legal. Some people use it as a fast way of sending remittances from abroad to their relatives here.

In 2019 there were weeks with over 2k BTC!

LocalBitcoin is a bit ourdated and people have moved to Binance, Airtm, Reserve and others.

One BTC is around 150,000 Bs., almost a year ago government removed by law 6 zeroes, so it would have been 150,000,000,000 "old" Bs.

Last month inflation (July) was "only" 7.5% according to the Central Bank, really good considering we had thousands % months ago. And, also months ago the monthly minimum wage was 2 USD!

Any question, let me know!

Some sources,

https://www.caracaschronicles.com/2022/04/21/is-venezuela-doing-better/

https://www.caracaschronicles.com/2022/04/20/the-bizarre-figures-of-venezuelas-economic-recovery/

https://coin.dance/volume/localbitcoins/VED/BTC

https://coin.dance/volume/localbitcoins/VED

https://www.caracaschronicles.com/2020/10/23/you-need-285-minimum-wages-in-venezuela-to-feed-your-family/

https://localbitcoins.com/country/VE

https://www.bloomberg.com/features/2016-venezuela-cafe-con-leche-index/