Canada P2P Crypto Trades Decline After Nearing 650,000 a Month in Spring 2024
JH Kim
Summary
- Canada's monthly P2P cryptocurrency transactions reached a peak of about 650,000 transactions in spring 2024.
- Canada's P2P crypto transaction count then declined.
- Chainalysis said the decline in P2P crypto transactions and the drop in study permits issued occurred around the same time, but no causal relationship was presented.
Forecast Trend Report by Period
Peer-to-peer, or P2P, cryptocurrency transactions in Canada peaked at nearly 650,000 a month in spring 2024 before declining. The number of study permits issued also fell over the same period.
Chainalysis said on Oct. 21 that Canada's monthly P2P crypto transactions reached about 650,000 in spring 2024, the highest level recorded.
Canada's P2P crypto transaction count then declined. The number of study permits issued in Canada also fell during the same period.
Chainalysis said the drop in P2P crypto transactions and the decline in study permits occurred at around the same time. It did not present evidence of a direct causal relationship between the two indicators.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.