The peer-to-peer (P2P) bitcoin trading volume in Africa is still on the upswing, as the continent has now reached a new record high for direct trading with the cryptocurrency for the third time in a row.So while Bitcoin trading volume in Africa is increasing steadily, Latin America, Asia and Western Europe are seeing falling volumes for P2P trading following the halving. As a result, bitcoin trading in Africa has now overtaken Latin America for the first time, which was the second strongest region in terms of weekly trading volume.
Africa’s soaring continues
For example, African crypto users traded more than $ 14.6 million in Bitcoin (BTC) through the P2P exchanges Localbitcoins and Paxful over the past week.The Africans are also breaking their previous record high of $ 11.6 million, which had only been set a week earlier. This mark was again an improvement on the record high of $ 10 million that was broken in the first week of May.Trading between the Nigerian Naira and Bitcoin accounts for almost two thirds of the total P2P trading volume in Africa, as $ 9.5 million in Bitcoin was traded in Nigeria last week alone.
North America’s trading volume also increased last week, helping the continent further expand its leadership position to $ 25.4 million.