P2P Trading Volume In African Countries Rises In Three Months

Countries in Africa represent more than $15M peer-to-peer trade within a few months.

The trading of bitcoin on peer-to-peer platforms has increased rapidly in a few months leading Africa to the second-strongest region in the world for P2P volume just behind the United States. Within the week, Africa is the only continent to post an increase in seven-day P2P trade. The sub-Saharan African continent has overtaken the Asia-Pacific, Eastern European, and Latin American regions which makes it the second-strongest peer-to-peer market by a volume margin of more than 50%.

One of the crypto analysts, Kevin Rooke, shared data on twitter disclosing a triple-digit P2P activity among Africa’s top peer-to-peer markets over the past three months. Countries like Nigeria, South Africa, Kenya, and Ghana have seen an increase in trading volume by 125%, 194%, 199%, and 257%, respectively. It is said that Africa will become a continent to hold roots of crypto adoption in the future. In the last few months, South America has also experienced a rise in peer-to-peer trading volume.

Earlier, an interactive map revealed the level of cryptocurrency interest worldwide, stating Bitcoin searches are most frequent in countries in Africa and South America. The map published on Blockchaincenter.net revealed Google Trends data where it showed the bitcoin dominates search interest in Africa. 94.7% of all searches related to crypto, including BTC, Bitcoin Cash, Cardano, Dogecoin, Ethereum, and Tron—in Kenya, are for Bitcoin. Many crypto enthusiasts believe that Africa plays an important role in becoming the roots of crypto adoption in the future.