Eniola Olorundare
Nigerians’ monthly trade in bitcoin rises to $44m (24.2bn), despite Federal Government ban.
In August, it rose to $44.4m from a previous high of $38.5m in May.
In January, BTC trading volume was $31.9m. In February, it was $31.9m; in March, it was $33.6m. By April, BTC trading volume was $33.1m, and $38.5m in May. In June, it was $34.7m, and $35.9m in July.
This brought the total trading volume of BTC from January to August in the nation to $284m.
A report showed that Africa received $105.6bn worth of cryptocurrency between July 2020 and June 2021.
A recent report by Chainalysis said that the cryptocurrency market in Nigeria and other African countries has grown by 1200 per cent in the last one year.
