Between Jan. 1 and July 4, the Nigerian share of Africa’s overall interest in cryptocurrency stood at 66.8%, a figure nearly eight times that of second-ranked South Africa’s share, according to the latest Coingecko report. South Africa, along with Morocco, Ghana, Egypt, and the Ivory Coast, accounted for 23.8% of the continent’s interest in cryptocurrency year-to-date (YTD).
High Inflation and Currency Woes Fuel Nigerian Interest in Crypto
According to the latest Coingecko Africa crypto report, Nigeria had “the highest level of crypto interest” on the continent with a share of 66.8%. The West African nation’s share of the continent’s crypto interest is nearly 8 times that of the next highest-ranked country South Africa.
The data in the Coingecko report is the latest to reaffirm Nigeria’s status as Africa’s number crypto nation both in terms of user curiosity and traded volumes. According to the report, poor traditional finance infrastructure, high inflation, and curre
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