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Sub-Saharan Africa is undergoing a noteworthy surge in crypto activity, having amassed $117.1 billion in transactions between July 2022 and June 2023. According to a Chainalysis report shared with crypto.news, this region contributed 2.3% of the global cryptocurrency transactions, marking the region’s most minimal market share. World regions per crypto transaction share | Source: Chainalysis However, this represents a noticeable growth in adoption. In the last report, Sub-Saharan Africa only accounted for 2% of global crypto transactions, with $100 billion in total transactions. The adoption of crypto currencies has persistently penetrated pivotal markets within the region.  You might also like: Chainalysis reports on crypto adoption in Sub-Saharan Africa Nigeria stands at the forefront, securing the second position on the Global Crypto Adoption Index, up from 11th last year. Additionally, Kenya, Ghana, and South Africa demonstrate resolute crypto adoption, with 21s...

Bitcoin almost breaks down from its sideways construction in place for months, and Bitcoin bulls are struggling to prop up the market. Bitcoin (BTC) targeted two-month lows on Aug. 17 as United States inflation returned to spook cryptocurrencymarkets. BTC/USD 1-hour chart. Source: TradingView BTC price teases exit from months-long corridor Data from Cointelegraph Markets Pro and TradingView confirmed the lowest BTC price levels since June 21 as BTC/USD wicked to $28,300. The downside came after the United States Federal Reserve published the minutes of its July meeting to discuss future monetary policy. Members of the Federal Open Market Committee (FOMC) revealed concerns that inflation might remain elevated without further interest rate hikes — something risk assets did not wish to see going forward. “Participants discussed several risk-management considerations that could bear on future policy decisions,” the minutes read.  “With inflation still well above the Committee's longe...

BTC price performance is getting market participants worried in the short term, but the signs of wider Bitcoin accumulation are there. Bitcoin (BTC) starts a new week above $30,000 but heading nowhere as the multi-month trading range refuses to shift. BTC price action is giving traders little more than a frustrating sense of deja vu — and they are now wondering what it could take to change the trend. It may in fact be more accurate to say that on low timeframes, a trend is exactly what Bitcoin lacks. The largest cryptocurrency has spent weeks bounding between upside and downside liquidity pockets without deciding whether bulls or bears will ultimately win. This struggle continues to play out with predictable regularity, and nothing — not macroeconomic data prints, institutional involvement or else — has been able to switch things up. With that in mind, it may not be all that problematic that the coming week offers little in terms of data-driven risk asset catalysts from the United S...

Market uncertainty calls for an opportunity to take advantage of disruptive innovation which has historically "gained share during turbulent times," says ARK Invest CEO. ARK Invest CEO Cathie Wood believes that digital wallets and blockchain tech were among “game-changing innovations” that the equity markets largely ignored in 2022.  In a Jan. 12 blog post on the ARK Invest website, Wood suggested that the equity market faced a “wall of worry” in 2022, caused by fears of entrenched inflation and higher interest rates, and largely ignored a number of innovative technologies. Wood highlighted that digital wallets are “replacing cash and credit cards,” noting that they overtook cash as the top transaction method for offline commerce in 2020. Further arguing that digital wallets should not be overlooked, she noted that they also accounted for approximately 50% of global online commerce in 2021. After the most difficult year ever in the equity market for innovation-based str...