The Coin Dance data showed information from popular Bitcoin peer-to-peer trading service Localbitcoins. One reason why the news is noteworthy is that Localbitcoins in recent times, has become a lot more strict regarding its know your customer (KYC) guidelines, a move which was initially thought would frustrate users away from the platform. Another reason is that the Central Bank of Argentina announced that it had outlawed the use of credit cards for Bitcoin purchases. Regardless of these restrictions, Bitcoin volumes continue to soar.
Both countries continue to suffer high levels of inflation, which is the reason trade volumes didn’t do any real considerable numbers.