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LocalBitcoins and Paxful Venezuelan bolivar (VES) Combined Volume

USD Equivalent

Source: UsefulTulips.org

Notes About This Chart

  • Chart updates daily. Daily updates can only be seen by accessing daily on the dropdown.
  • Weekly, monthly bars are only updated at the end of the week/month

Data Sources

  • Trading data derived from LocalBitcoins.com API and Paxful.com API
  • Bitcoin Price derived from cryptocompare.com API minutely BTC price
  • Exchange Rates derived from openexchangerates.org API daily exchange rates. Some exchange rates for currencies, especially the ones which have black market parallel rates, are less reflective of the on-the-ground situation in a local economy. Black market exchange rates will come shortly where applicable.

Variable Definitions and Calculations

  • Rate of Trade = The amount of local fiat currency used to trade for 1 BTC
  • Global Spot Price = The average price of Bitcoin in USD globally according to cryptocompare.com API minutely CCCAGG index
  • Exchange Rate = The rate of exchange of given local currency against the US Dollar on global foreign exchange markets to the nearest day
  • USD Equivalent = Summation of (Volume BTC * Global Spot Price) for every trade of a given currency in a given time window
  • Percent from spot for a given trade = ((Rate of Trade - (Exchange Rate * Global Spot Price)) / (Exchange Rate * Global Spot Price * 100) * USD Equivalent of given trade
  • Dollars from spot for a given trade = Precent From Spot * USD Equivalent
  • Percent from Global Price = Sum of Dollars from Spot for all trades within a given currency in a given time window / USD Equivalent of all trades for a given currency in a given time window