JOHANNESBURG (Reuters) - Cryptocurrency usage is growing in Nigeria as Africa's largest economy grapples with a weakening currency and soaring ...
JOHANNESBURG - Cryptocurrency usage is growing in Nigeria as Africa's largest economy grapples with a weakening currency and soaring inflation, New York-based blockchain research firmSaltWire's Atlantic regional weather forecast for September 19, 2023 | SaltWireJOHANNESBURG - Cryptocurrency usage is growing in Nigeria as Africa's largest economy grapples with a weakening currency and soaring inflation, New York-based blockchain research firm Chainalysis said in a report on Tuesday.
In Nigeria, interest in bitcoin and stablecoins - crypto tokens whose monetary value is pegged to a stable asset to protect from wild volatility - increased when the naira's value plunged, particularly during the most extreme drops in June and July of 2023, Chainalysis said. "People are constantly looking for opportunities to hedge against the devaluation of the naira and the persistent economic decline since COVID," Moyo Sodipo, co-founder of Nigeria-based cryptocurrency exchange Busha, said in a statement shared with the report.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Yellen says U.S. 'soft landing' can weather strike, govt shutdown, student loan risksBy David Lawder NEW YORK (Reuters) - U.S. Treasury Secretary Janet Yellen told Reuters that a
Read more »
Nigerian court frees on bail dozens arrested over alleged gay weddingYENAGOA, Nigeria (Reuters) - A court in Nigeria has released on bail 69 people who were arrested last month in connection with an alleged gay wedding, ...
Read more »
Nigerian court frees on bail dozens arrested over alleged gay weddingYENAGOA, Nigeria (Reuters) - A court in Nigeria has released on bail 69 people who were arrested last month in connection with an alleged gay wedding, ...
Read more »
Unleashing LYOTRADE staking: A path to maximizing your potentialCryptocurrency staking has transformed into a gateway for individuals to earn passive income while actively […]
Read more »
Build a passive income stream from cryptocurrencies with CGMD minerAs more players enter the cryptocurrency space, mining becomes more complex and requires more computing […]
Read more »
Cricket-Australia opener Travis Head’s World Cup chances up in the airJOHANNESBURG (Reuters) - Australia opener Travis Head’s participation at next month’s World Cup remains up in the air due to a fractured finger, which ...
Read more »