Business & Loans
Nigeria Crypto Market Increases By Over 1000%
Nigeria Crypto Market Increases By Over 1000%
The cryptocurrency market in Nigeria and other African countries has grown by 1200 percent in one year. This was disclosed in a report by Chainalysis on Tuesday.
According to the report, the African region has one of the highest grassroots adoptions in the world, with Kenya, Nigeria, South Africa, and Tanzania ranking in the top 20 of its Global Crypto Adoption Index.
You may also want to read Western Union, MoneyGram May Lose $400m to New Bitcoin App, Chivo Wallet
The report added that Africa has the third-fastest growing cryptocurrency economy, and a bigger share of its overall transaction volume made up of retail-sized transfers than any other region at just over 7 percent, versus the global average of 5.5 percent.
The report said that Africa was the smallest cryptocurrency economy of any region under review, having received $105.6 billion worth of cryptocurrency between July 2020 and June 2021.
It added that the Peer to Peer platform is more prominent in Africa than in other regions, and many African cryptocurrency users also rely on P2P platforms for remittances and commercial transactions.
You may also want to read Ukraine Passes Legislation On Crypto Operations
It said, “Cross-region transfers also make up a bigger share of Africa’s cryptocurrency market than any other region at 96 percent of all transaction volume, versus 78 percent for all regions combined. Thanks in part to this recent growth, no region uses P2P platforms at a higher rate than African cryptocurrency users, as they account for 1.2 percent of all African transaction volume and 2.6 percent of all volume for Bitcoin specifically.
Nigeria Crypto Market Increases By Over 1000%
-
Tips2 years ago
Shiloh 2022 Programme Schedule – Theme, Date And Time For Winners Shiloh 2022
-
Business & Loans2 years ago
Dollar To Naira Today Black Market Rate 1st December 2022
-
Business & Loans2 years ago
SASSA Reveals Grant Payment Dates For December 2022
-
Jobs & Scholarship2 years ago
Latest Update On 2023 NPC Ad hoc Staff Recruitment Screening
-
Tips2 years ago
Happy New Month Messages and Wishes For December 2022
-
Tips4 years ago
Best Android VPN Apps in 2020 (Full List)
-
Business & Loans2 years ago
Npower Latest News On August Stipend For Today Friday 2nd December 2022
-
Business & Loans2 years ago
Dollar To Naira Today Black Market Rate 2nd December 2022
Pingback: Shiba Inu Joins Top 20 Crypto List As It Continues To Pump - FlippStack
Pingback: Five (5) Meme Coins You Need To Buy This November - FlippStack