Does Africa have a cryptocurrency market?

According to the World Bank, the median GDP per capita in Sub-Saharan Africa is $1,483. Compared to the European Union, which has a GDP per capita at $33,927, this makes African wealth output 22X lower. Correspondingly, the Chainanalysis report found that Africa’s cryptocurrency market share is the smallest.

Does Africa have the smallest cryptocurrency market share?

Compared to the European Union, which has a GDP per capita at $33,927, this makes African wealth output 22X lower. Correspondingly, the Chainanalysis report found that Africa’s cryptocurrency market share is the smallest. Visual insights into African wealth vs. crypto adoption rate. Image: Chainalysis Insights

How is Africa's crypto market doing?

In the last year, about a 1,200 percent increase in crypto value had been accounted for, in Africa alone. According to Chainalysis Insights, Africa has top peer-to-peer (p2p) payment platforms in terms of transaction volume across all regions. Over 70 million Nigerians have traded cryptocurrency in the last six months.