Africa’s crypto market has grown by more than 1,200% since 2020: Chainalysis
P2P platforms, the need for remittances to circumvent restrictions from banks, and putting savings into crypto as a means of avoiding inflation could have contributed to the growing market in Africa. Digital analytics firm Chainalysis reported that the cryptocurrency market in Africa has grown significantly since last year in addition to the region having a larger share of overall retail transaction volume compared to the global average.In a report released on Sept. 14, Chainalysis said Africa’s crypto market has increased in value by more than 1,200% between July 2020 and June 2021, with....
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Darknet market revenues hit a new all-time high in 2020, despite declining individual purchases from marketplaces. Blockchain analytics firm Chainalysis also spotted a singular driver behind the new record witnessed over the last year. Hydra Market Is the Major Driver Behind Revenue Figures in 2020 According to the Chainalysis 2021 Crypto Crime Report, darknet markets brought in a total of $1.7 billion worth of cryptocurrencies in 2020. But the report unveiled that Hydra Market, one of the largest illegal marketplaces in the darknet, boosted the total revenue significantly. In fact,....
Leading blockchain protocols and other actors jockey for position in the race to build and mold Africa’s emerging Web3 economy. Whatever you prefer to call it — crypto, blockchain or Web3 — this new segment of the digital economy is booming across Africa. If you’ve been sleeping on the sector, now’s a good time to wake up.Why? Well for one, according to analytics firm Chainalysis, Africa’s crypto market increased in value by more than 1,200% between July 2020 and June 2021. Led by especially high adoption rates in Kenya, South Africa, Nigeria and Tanzania, Africa had the third-fastest....
African crypto adoption has exploded in 2020, prompting fears of a heavy-handed regulatory response 2020 has seen an acceleration in African crypto adoption, with the continent emerging as the second-largest region for peer-to-peer (P2P) trading, and two African nations ranking in the top eight of the Chainalysis crypto adoption index.However, the booming growth has caught the attention of Africa’s financial regulators, sparking concerns that a rush to introduce heavy-handed oversight could quell innovation in the local crypto industry.Nigeria has led the continent’s growth in 2020,....
Facing challenges in the crypto job market, blockchain data company Chainalysis has confirmed another wave of layoffs in a series of employment reductions across the crypto sector, a report from Bloomberg noted. Founded in 2014, Chainalysis swiftly gained a reputation for tracking digital asset transactions and its collaborations with government agencies, including the US. Related […]
Chainalysis recently released an article titled “Why Bitcoin is Surging and How This Rally Is Different from 2017 (Hint: It’s Who’s Buying).” The blockchain analytics firm referenced Bitcoin’s amazing run of form, in which the leading cryptocurrency has gained 150% in value since the start of 2020. A strong last two months has seen the […]