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26.11 - 14:51
Nigeria: A 43% drop in Bitcoin P2P trading volumes thanks to…
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Nigeria has been taking extreme steps to thwart crypto-transactions in the country, of late. Consequently, the result of these measures has been falling Bitcoin peer-to-peer [P2P] trading volume. As per data provided by UsefulTulips, the country’s P2P transactions have dropped by 43%.
It may continue to spiral down as the Central Bank of Nigeria [CBN] strengthens its grip on existing crypto-users in the country.
Source: UsefulTulips
According to the aforementioned data, Nigeria reported a weekly P2P volume of nearly $9.4 million, with the same having fallen recently. Kenya and South Africa registered trading volumes of $2.8 million and $1.8 million, respectively, and might follow Nigeria soon.
The country, in the past, has remained a major hub
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