Powel, Author at Cryptotimes Africa

The Central Bank of Nigeria Approves Launch of the Africa Stablecoin Consortium to Pilot the cNGN Naira Stablecoin

by Powel January 5, 2024

A monumental shift in the financial landscape unfolds as the Central Bank of Nigeria (CBN) greenlights the Africa Stablecoin Consortium (ASC) to pilot cNGN (compliant Nigerian Naira StableCoin) in the Central Bank’s Regulatory Sandbox. A monumental shift in the financial landscape unfolds…

Feature News

Solana Foundation Plans Expansion to Brazil With Over $10M in Investments

by Powel January 5, 2024

The Solana Foundation which is the institution in charge of managing initiatives related to the Solana network, has announced it will expand to Brazil. According to local reports, the organization plans to launch a local team and invest over $10 million in…

Article Feature

EXPERT OPINION |2024 Will See Increased Competition in Nigeria’s Crypto Ecosystem Following Entry of Banks

by Powel January 4, 2024

Highlighting the potential impact of the CBN guidelines, the expert stressed that they could foster collaboration between cryptocurrency platforms and traditional financial institutions. This collaboration may open avenues for exploring opportunities within the crypto space, ultimately promoting greater integration and cooperation between…

Bitcoin Feature

Nigerian central bank publishes rules for opening crypto accounts

by Powel January 4, 2024

Nigeria’s apex bank expanded on its decision to reverse a crypto ban on financial service providers, providing clear rules to oversee operations moving forward. The Central Bank of Nigeria (CBN) announced stringent rules for banks as the watchdog pivoted away from a…

Bitcoin

Bitcoin falls 10% in three hours following Matrixport proclamation

by Powel January 4, 2024

Bitcoin fell about 10% three hours earlier yesterday, but market data sheds some light on this unexpected change of direction. Bitcoin (BTC) is trading at just over $42,300 after seeing a price decrease of about 7.4% over the last 24 hours. Earlier…

Coins News

CRYPTO EXCHANGE | Nigerian Exchange, BuyCoins Africa, Shutting Down Buycoins Pro Service

by Powel January 3, 2024

BuyCoins initially launched with a single app in 2017. However, it transformed into Basic and Pro versions, the Basic version catering to buying and selling (investing) in digital assets, while the recently closed Pro version was tailored for advanced technical traders. uyCoins…

Coins Feature

Solana flips Ethereum in 7-day stablecoin volume

by Powel January 3, 2024

Blockchain users transacted $100 billion in stablecoin volume on Solana for the first time. Once hailed as a so-called “Ethereum killer”, Solana has flipped crypto’s largest altcoin blockchain in stablecoin transaction value over seven days. The difference in volume between Solana and…

Bitcoin Feature

Crypto market starts new year green has Bitcoin hits highest point since April 2022

by Powel January 2, 2024

The crypto market starts the year mostly coloured in green amid high buying pressures. The flagship crypto asset rallied strongly on the first day of the new year, Bitcoin blasted past $45,000 for the first time since early April 2022., with favourable…

Coins News

Crypto hacks in December push total losses close to $100m

by Powel January 2, 2024

December 2023 has experienced significant losses in cryptocurrency thefts, with the latest attack on Orbit Chain’s cross-chain bridge pushing the month’s total losses close to $100 million, according to blockchain security firms. Blockchain security firm PeckShield reported on Jan. 1 that the $81.5…

Feature Industry

CBN guidelines: “Nigeria to witness surge in crypto usage in 2024” – Yellow Card

by Powel December 27, 2023

One of the crypto exchanges in Nigeria, Yellow Card, has expressed confidence that cryptocurrency usage will spike in Nigeria from 2024 as a result of the guidelines recently released by the Central Bank of Nigeria (CBN, lifting the ban on crypto transactions. …