38 BTC (+9 from last week) were traded last week in Venezuela only measured with LocalBitcoin, monthly minimum wage still at 16 USD.
Hi, as I said before, usually post this in the [r/CryptoCurrency](https://www.reddit.com/r/CryptoCurrency/) but found out that some people here don't go there... *We see a nice 9 BTC increase from last week, nothing special happened so I don't know why the increase. Around 9% of the traded amount in LocalBitcoin (worldwide).* *LocalBitcon is the only "exchange" that post all its stats, it is not the most used here for sure (maybe years ago when over 2k BTC were traded weekly). Most used is Binance for sure* *One BTC trades at 170,000 Bs. (bolivares). No millions anymore because a year ago six zeroes were removed from the currency by law (So it would have been 170,000,000,000 Bs.). 3rd time they done it in the last 15 years (3 zeroes in 2007, 5 zeroes in 2018 and 6 zeroes in 2021).* *Yes, I understand it's hard to believe but monthly minimum wage is 16 USD (130 Bs. and exchange rate is 1:8), average wage is around 100 USD and you need around 100 USD monthly ONLY for food according to some NGO (governmet wont publish that information).* *We have been using crypto since maybe 2017 when inflation hit hard (over a 1,000,000% in 2018), everything is more stable than Bolivares haha. Volume come from people getting rid of their bolivares, miners exchanged their profit (here electricity is FREE), and people sending remittances from abroad, among others uses.* *Any question, let me know:* [*https://en.wikipedia.org/wiki/Hyperinflation\_in\_Venezuela*](https://en.wikipedia.org/wiki/Hyperinflation_in_Venezuela) [*https://coin.dance/volume/localbitcoins/VED/BTC*](https://coin.dance/volume/localbitcoins/VED/BTC) [*https://coin.dance/volume/localbitcoins/VED*](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/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/2022/04/21/is-venezuela-doing-better/) [*https://www.caracaschronicles.com/2022/04/20/the-bizarre-figures-of-venezuelas-economic-recovery/*](https://www.caracaschronicles.com/2022/04/20/the-bizarre-figures-of-venezuelas-economic-recovery/) [*https://localbitcoins.com/country/VE*](https://localbitcoins.com/country/VE) [*https://www.bloomberg.com/features/2016-venezuela-cafe-con-leche-index/*](https://www.bloomberg.com/features/2016-venezuela-cafe-con-leche-index/)
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