35 BTC were traded in Venezuela last week measured only LocalBitcoin after a hard devaluation making the monthly minimum wage drop to around 8 USD monthly!

Hi guys, updating this week!

Hi there, just posting my weekly update from Venezuela.

Nothing new, 38 BTC a 3 BTC increase from last week. As I always say this is only measured using LocalBitcoins which is not used much anymore but it's the only one that makes public their stats.

Most used CEX are Binance, AirTM, Reserve among others. LocalBitcoins was king years ago.

Yes, that is the monthly minimum wage sadly. 130 Bolivares (Bs.) exchange rate is around 16 Bs. per USD (official) and 17 Bs. per USD (street).

People use crypto to avoid Bolivares, get paid, pay things, exchange profit from mining (electricity is "free") and also receive and sent remitances from/to abroad.

Any question, let me know.

Some sources:

https://www.reuters.com/technology/venezuelas-economy-regresses-crypto-fills-gaps-2021-06-22/

https://en.wikipedia.org/wiki/Hyperinflation_in_Venezuela

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://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://localbitcoins.com/country/VE

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