Bitcoin trading volumes post new high in Philippines peso on Paxful
— Week, Crypto, Weekly, Philippines, Trading, Paxful, Bitcoin, High, Peso, Post — 1 min read
Bitcoin trading volumes in the Philippines have been on the rise on the major P2P crypto exchange Paxful. The number of Bitcoins traded per week on Paxful in the country is still yet to break the all-time high weekly volumes of 111 BTC posted in August 2020. The rise in Bitcoin trading came amid a massive bearish trend in the cryptocurrency markets, with Bitcoin losing about 50% of its value since early May. The Philippine central bank will reportedly decide whether to hike interest rates in mid-August amid inflation that is expected to grow above 7% by the end of the year from the current 6.1%. In April 2022, Philippines-based fintech firm PayMaya reportedly launched a crypto feature allowing users to trade, purchase and spend crypto Source