**News Flash: Stablecoins Dominate Sub-Saharan Africa's Crypto Scene**

Stablecoins now make up nearly half of all crypto transactions in Sub-Saharan Africa, driven by local currency devaluation, according to Chainalysis' latest report. The region sees around 43% of its transaction volume in stablecoins, with Nigeria leading the charge. Between July 2023 and June 2024, Nigeria recorded $59 billion in crypto transactions, mostly under $1 million, highlighting retail and professional activity.

Ethiopia is also seeing rapid growth, with a 180% increase in retail-sized stablecoin transfers year-over-year. The Ethiopian birr's 30% devaluation in July spurred this trend.

Stablecoins are becoming essential for managing liquidity and reducing currency volatility, even surpassing Bitcoin in South Africa. Chainalysis suggests that Africa's crypto use cases offer valuable insights for the global market, positioning the continent as a potential crypto leader.