I just reviewed some quite interesting numbers about crypto activity in Venezuela. According to Chainalysis, the trading volume of cryptocurrencies in the country reached $44.6 billion in the last year (July 2024 to June 2025). What caught my attention is who is behind these movements.

Most of these transactions come from retail investors, people with small wallets managing less than $10,000. We’re not talking about whales or institutional traders, but ordinary citizens seeking alternatives. It’s interesting to see how the crypto market in Venezuela has become so decentralized and based on small participants.

Now, the government has tried to establish its own regulatory framework with SUNACRIP and launched its official cryptocurrency, the Petro. But here’s the curious part: despite these efforts, most Venezuelans still prefer to use international platforms. It seems that trust in local solutions isn’t as strong as authorities had hoped.

This reflects a broader reality about how cryptocurrencies operate in economies with restrictions. Users seek access to global markets, decentralized options, and the freedom to operate without local intermediaries. Cryptocurrency activity in Venezuela will continue to be driven by these retail investors who see crypto as an escape amid the local economic volatility.