Africa’s surging volumes come amid a plateauing in world P2P commerce, with Latin America, Asia Pacific, and Western Europe posting important declines in post-halving quantity.
As such, this previous week noticed African P2P commerce overtake Latin America to rank because the second-strongest area by weekly quantity for the primary week on document.
Regional P2P weekly BTC commerce quantity: UsefulTulips.
Africa’s P2P markets see extended quantity spike
Greater than $14.6 million price of Bitcoins modified arms between African customers of P2P crypto marketplaces Localbitcoins and Paxful this previous week.
The week’s quantity beat out the continent’s earlier document of $11.6 million from final week, and the almost $10 million traded firstly of the month.
Commerce between the Nigerian naira and BTC represents two-thirds of the continent’s P2P commerce, with $9.5 million price of BTC altering arms in Nigeria in a single week.
North American commerce additionally elevated in quantity this week, extending the continent’s dominance with $25.four million.
Solely Africa and Asia see annual Improve in P2P commerce
Evaluating P2P volumes over 365-day intervals reveals solely Africa and Asia to have made positive factors in yearly commerce exercise.
Regional P2P yearly BTC commerce quantity: UsefulTulips.
Sub Saharan Africa ranks because the fifth-strongest area by quantity, trailing behind North America, Japanese Europe, Latin America, and Asia Pacific.
North American generates over $1 billion in P2P Bitcoin commerce every year.