After a slow start last year, Bitcoin and Ethereum volumes in Nigeria have surged so much that the top five exchanges there are now reporting volumes that exceed what’s available in the United States. The Nigerian exchanges are the most prolific in the world, both in terms of volume and number of users.
The cryptocurrency market has been on a wild ride since the beginning of 2018 where the prices of all major cryptocurrencies have been moving between the upper and lower limits. With the price of Bitcoin and Ethereum now much lower than their all time highs, it is no surprise that trading volumes of the two have dropped considerably.
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Bitcoin › Africa › Adoption
Available information has shown that Nigeria has recorded tremendous growth in its crypto P2P trade volume despite the imposed restrictions on the sector by the government.
Oluwapelumi Adejumo · July 13, 2021 at 8:03 am UTC · 2 min read
Source: UsefulTulips
Also, Ghana traded volume has usurped that of South Africa. The west African country saw its volume reach double figures for the month of June, making it 3rd on the list. While South Africa now ranks as the fourth with a trading volume of $7.7 million.
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