Nigerians continue to bet on crypto despite fall in value – The Africa Report

Nigerians continue to bet on crypto despite fall in value – The Africa Report

Blockchain Crypto Market Technology
August 3, 2022 by Coinvasity
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By Harry Clynch Posted on Tuesday, 2 August 2022 17:02 The value of prominent cryptocurrencies has fallen sharply this year. The price of Bitcoin has more than halved, and Ethereum is down by more than 60%. And major stablecoin Terra has collapsed altogether. And yet for many Nigerians, digital assets remain a good bet.Nigeria has
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By Harry Clynch
Posted on Tuesday, 2 August 2022 17:02
The value of prominent cryptocurrencies has fallen sharply this year. The price of Bitcoin has more than halved, and Ethereum is down by more than 60%. And major stablecoin Terra has collapsed altogether. And yet for many Nigerians, digital assets remain a good bet.
Nigeria has seen one of the largest uptakes of digital assets in the world, with one survey estimating that 35% of adults have invested in crypto. Indeed, Nena Nwachukwu, chief operations officer at digital collectables marketplace Ayoken, says that transaction volumes “have actually gone up slightly during the bear market”.
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