It’s been quite a tough time for the cryptocurrency community due to the whole China-against-Bitcoin thing, as a result of which the top cryptocurrency price has fallen.
Thus, due to the significant tightening of the state regulation of the cryptocurrency industry, a lot of Chinese traders switch to the popular p2p platform LocalBitcoins, according to the data provided by the analytical service coin.dance.
LocalBitcoins volume on coin.dance
As shown, the weekly trading volume on the platform was 74.8 million yuan, more than double of the value of a week ago (32.4 million yuan, September 9th, 2017).
It seems that such a the rapid growth in trading volume on the LocalBitcoins p2p platform is also largely due to the closure of the popular platform BitKan.