While many centralized exchanges benefited handsomely from the recent sell-off, P2P trade on Paxful dropped by almost 50% this week.
The recent crypto market slump has driven massive trade volumes on centralized exchanges, but peer-to-peer (P2P) trading platforms actually saw a sharp decline in activity.
Latin-America was the only region to buck the trend.
The top region for P2P trade, the United States, posted a 42% slump in peer-to-peer volume this week — plummeting from $23.4 million to nearly $13.6 million.
Sub-Saharan African has been the second-largest region for P2P trade after North America for much of 2020.