Bitcoin {BTC} trading volume high in areas with “less stable” banks; Coinbase lists new achievement

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Bitcoin is priced at $10,103.02 according to the latest data available. The price jumped by 3.78% in the span of the past 24-hours. The trading volume recorded is $17.427 billion, while the supply has 17,836,625 BTC tokens involved. The total market cap of the king coin is $180.203 billion.

If the bullish momentum builds for the next two days, the value would cross the $200 billion mark. Digital Assets Data has released a new research paper which points to the relationship between economic problems and bitcoin.

Data obtained from LocalBitcoins.com shows that Venezuela, Nigeria and Argentina are areas where people are HODLing even in the wake of bearish pressure.

“We found that in developing countries and places where monetary policy and banks are less stable, Bitcoin trading volume continued to rise even as the bitcoin price was falling.”

In case of instability in the developed nations [rising unemployment: Mr. Modi are you listening?] interest towards Bitcoin will gradually increase.

Coinbase, the most well-known exchange in the United States, now have over 30 million users. During 2017, as BTC was heading to $20,000, popularity for Coinbase soared exponentially.

The Earn platform was a new initiative unleashed in May, 2018. This let users earn cryptocurrencies as they slowly become well-versed with the market. In May this year, Coinbase stated that their platform is now available for trading in more than 100 nations.

Due to a protocol upgrade, Bitcoin SV has been de-listed from Coinbase. LINK was listed a while back, which propelled the virtual currency ahead. So far, there have been no hacks on Coinbase, while Binance and many other competitors had come across malicious personnel. This proves security is paramount for building a trusted consumer base.

Although, due to opposition from various lawmakers in the U.S., Brian Armstrong’s plans of bringing crypto-adoption to a grand level may be thwarted.