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The P2P volume in Africa exceeds Latin America for the first time

May 23, 2020

Bitcoin (BTC) trading volume in Africa continued to increase in peer-to-peer or P2P trading, and the continent posted its third consecutive peak in trading activity.

Increasing volumes in Africa are in the midst of a plateau in global P2P trading, with Latin America, Asia Pacific and Western Europe experiencing a significant decrease in volume after halving.

Such as, African P2P trading outperformed Latin America last week and was the second strongest region by weekly volume. in the first week.

The P2P volume in Africa exceeds Latin America for the first time
The P2P volume in Africa exceeds Latin America for the first time

P2P BTC regional weekly trade volume: Useful tulips.

BTC regional P2P trade volume for the week: Useful tulips.

The P2P markets in Africa are experiencing continued volume growth

Bitcoins worth more than $ 14.6 million changed hands between African users in the P2P local bitcoins and Paxful cryptocurrency markets last week.

The week’s volume broke the continent’s previous record of $ 11.6 million last week, and nearly $ 10 million was traded earlier this month.

Trade between Nigerian Naira and BTC accounts for two thirds of the continent’s P2P trade. BTC worth $ 9.5 million changes hands in Nigeria in one week.

North American trade also increased this week, expanding the continent’s dominance by $ 25.4 million.

Only in Africa and Asia does P2P trading increase every year

A comparison of P2P volumes at 365-day intervals shows that only Africa and Asia saw growth in annual trading activity.

Regional P2P annual BTC trading volume: Useful tulips.

Annual trade volume of BTC P2P: useful tulips.

Sub-Saharan Africa is the fifth largest region in terms of volume after North America, Eastern Europe, Latin America and the Asia-Pacific region.

North America generates more than $ 1 billion a year in Bitcoin P2P trading.