Nigeria's Crypto Market Surges Past $92 Billion, Bitcoin Remains Dominant
Nigeria's cryptocurrency market has been growing rapidly in recent times, with the country holding over $92.1 billion worth of digital assets, making it one of the largest markets on the continent.
A report by Chainalysis shows that Nigeria ranked second on the list of countries with the highest value of crypto assets, after South Africa, which held around $30.5 billion.
The growth of cryptocurrency in Nigeria is attributed to various uses such as buying and selling goods online, making international payments, and investing in digital assets.
Stablecoins like USDT and USDC have become popular among Nigerians due to their stability and ease of use. Bitcoin remains the most widely traded cryptocurrency in the country, accounting for around 89% of all crypto transactions.