Top 10 African countries by crypto transaction volume in 2025

Sub-Saharan Africa has emerged as one of the world’s fastest-growing cryptocurrency regions. According to Chainalysis’ Geography of Cryptocurrency report, the region received more than $205 billion in on-chain value between July 2024 and June 2025, a 52% year-on-year surge. That pace places the region among the fastest-growing crypto markets in the world, only behind Asia-Pacific and Latin America, driven not by hype cycles but by structural economic pressure.

Over 8% of transfers in the region are under $10,000, higher than the global average, showing crypto’s role in everyday finance and inclusion for the unbanked. Bitcoin dominates as a store of value, while stablecoins like USDT power cross-border trade and payments. Nigeria leads the charge, but the momentum spreads across the continent.

The numbers reveal a continent where digital assets are increasingly embedded in how value moves.

Meet the leading 10 African countries by crypto transaction volume:

1. Nigeria: $92.1 billion

Nigeria, Africa’s only representative at the top ten global adoption index, ranking sixth, remains Africa’s undisputed crypto heavyweight, with $92.1 billion in transaction value. That figure alone accounts for nearly half of the region’s total volume.

But Nigeria’s lead is less interesting than why it persists. Digital asset here has matured into financial plumbing. Stablecoins, peer-to-peer trading and informal payments have become routine responses to currency volatility and capital controls.

The scale is immense, but it is also deeply functional.

2. South Africa: $36.0 billion

South Africa’s $36.0 billion reflects a different kind of crypto economy.

This is a more structured market, shaped by institutional participation, exchanges and clearer regulatory engagement. While retail adoption is strong, the transaction sizes suggest higher-value flows and professional usage.

South Africa remains the region’s bridge between grassroots adoption and formal finance.

3. Ethiopia: $24.0 billion

Ethiopia’s $24.0 billion is one of the report’s most telling signals. Despite tighter financial controls, digital assets activity is rising fast.

This points to latent demand rather than speculative excess. In constrained systems, crypto often grows quietly until the numbers make it impossible to ignore.

4. Kenya: $19.0 billion

Kenya’s $19.0 billion reflects continuity rather than disruption. The country’s long-standing mobile money culture created a population already comfortable with digital value.

Digital asset has slotted into that ecosystem naturally, particularly in peer-to-peer transfers and small-scale trading.

5. Ghana: $11.0 billion

With $11.0 billion in transaction volume, Ghana’s crypto growth has been steady and pragmatic. Adoption here is driven less by speculation and more by everyday financial use. Inflation hedging, remittances and cross-border payments continue to pull users towards stablecoins and decentralised rails.

6. Uganda: $8.0 billion

Uganda’s $8.0 billion highlights how crypto fills gaps left by traditional banking. Peer-to-peer usage dominates, particularly for international transfers. It is a familiar pattern across markets in the region, where access matters more than ideology.

7. Cameroon: $7.0 billion

Cameroon’s $7.0 billion underscores Central Africa’s quiet but persistent crypto uptake. Here, adoption reflects a mix of currency pressure and regional trade needs. Crypto’s appeal lies in its flexibility rather than any grand technological promise.

8. Senegal: $4.0 billion

At $4.0 billion, Senegal’s position shows how West Africa’s crypto story extends beyond its largest economies. Growth here is incremental but meaningful. It reflects rising awareness and increasing peer-to-peer participation.

9. Tanzania: $3.0 billion

Tanzania recorded $3.0 billion in transaction value. While smaller in scale, the trend is consistent. Crypto adoption is building gradually, largely outside formal financial channels.

10. Zambia: $2.5 billion

Zambia rounds out the top 10 with $2.5 billion. The figure may seem modest, but it signals early-stage momentum. As connectivity and financial literacy improve, these lower-ranked markets often become the fastest climbers.

The data shows that Africa’s crypto growth is no longer concentrated in one or two hotspots. It is spreading, diversifying and hardening into real economic behaviour, a continental shift in how value moves.

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