According to TechFlow, Cointelegraph reported that according to the latest report from Chainalysis, due to the surge in demand for stablecoins caused by the depreciation of local currencies, stablecoin transactions now account for 43% of the total crypto transactions in sub-Saharan Africa.
Among them, the sharp depreciation of currencies in Nigeria and Ethiopia has promoted the widespread use of stablecoins, especially in Nigeria, where the volume of crypto transactions reached approximately US$59 billion in the past year.
The report also pointed out that stablecoins have gradually replaced Bitcoin and become the most received crypto asset in South Africa.
