Bitcoin P2P Trading Volume Seeing Record Highs
Quick Read
- Bitcoin P2P trading volume is surging.
- The first Bitcoin trade on the Mt.Gox exchange valued Bitcoin at less than $0.05
Peer-to-Peer (P2P) Bitcoin trading allows traders to trade Bitcoin with one another directly. According to a tweet by Kevin Rooke and data by UsefulTulips.org, Bitcoin P2P volume is surging.
The volume is surging in several countries, including emerging and rapidly developing markets. Trading Bitcoin P2P may be attractive to some traders as P2P Bitcoin exchanges offering an additional level of privacy.
The First Bitcoin Trade On Mt.Gox
As reported previously by The Crypto Associate, in a new blog post, Clark Moody outlined the first Bitcoin trade on Mt.Gox on July 17, 2010. The trade consisted of 20 Bitcoin for a total order value of just $0.9902, valuing one Bitcoin at $0.04951.
The cryptocurrency has come a long way since its inception over a decade ago. Even before the arrival of cryptocurrency exchanges, Bitcoin was sometimes traded for physical goods. Some early crypto adopters remember the now-famous Bitcoin pizza transaction in which a man by the name of Laszlo Hanyecz paid 10,000 Bitcoin for two Papa John’s pizzas back in May 2010.
While the cryptocurrency is still far away from its all-time high of $20,000 in 2017, the cryptocurrency is now trading at $9,300, a massive increase from Bitcoin’s value in 2010. Furthermore, the Bitcoin network itself has grown exponentially, with miners now estimated to consume over $3 billion in electricity on an annual basis.
Cover image by Paweł Czerwiński on Unsplash
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