Crypto Africa Roundup: Dash in Nigeria, Peer-to-Peer Trades Growing in Africa

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In our Crypto Africa Roundup, YouHash take a look at some recent developments on the fast-growing crypto continent.

Dash Nigeria Grows Merchant Base Whilst Increasing Integrations With Exchanges

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Dash Nigeria continues to expand its network and reported adding two additional merchants who have committed to both accepting Dash as payment whilst also offering clients a discount for paying using the cryptocurrency.

 The merchants are Cryptostorez, a local company that markets cryptocurrency related products, and Qualymart, who use an online platform to sell fashion accessories and watches.

 Notwithstanding the tough year for cryptocurrencies in terms of values, there is no doubt that there is continued growth in merchant adoption around the world.  And nowhere is this more prevalent that in Africa where a large percentage of the population is outside of the formal banking system.

According to Dash News reports that there are now in excess of 4,600 Dash merchants globally.

Paxful Reports Over 17,000 Daily Peer-to-Peer Trades in Africa


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 Cryptocurrency adoption continues to grow on the continent that possibly has the most to gain from digital store and exchange, and this is evidenced in the 17,000 peer-to-peer trades undertaken in Africa using the Paxful platform, CCN reports.

The majority of these trades take place using iTunes and Amazon gift cards with aggregate trade in 2018 coming in at $300-million and $165-million respectively.  Bank transfers lagged behind at less than $50-million, or at less than 10% overall.

Paxful has invested heavily in corporate social responsibility in Africa through its #BuiltWithBitcoin campaign and to date they have built two schools in Rwanda as well as having provided scholarships to Afghan refugees.

United Nations Office on Drugs and Crime (UNODC) to Partner with Doc.Com to Introduce Blockchain-Based Medical Health Services

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UNODC plans to partner with doc.com, a blockchain based telehealth business that claims to have impacted over 200,000 lives by allowing clients to talk directly to a doctor or a psychologist for free, 24 hours per day.  This is accomplished through users ‘tokenizing’ their personal data, and effectively selling it in return for access to services.

The company operates in 20 countries and makes use of an ERC20-compatible token known as MTC, which is traded on numerous exchanges.

In terms of the United Nations partnership, doc.com has committed to be up and running in the Eastern African market by the end of June, 2019.

Just How Did Binance Coin (BNB) Manage to Go Up in Value Over 236% in 3 Months?

On Thursday (April 18), the very strong Binance Coin (BNB) price rally that started roughly three months ago continued, with Binance's announcement about the mainnet launch of Binance Chain causing the token's price to increase another 12% to $21.78, bringing it even closer to its all-time high of $24.46 (reached in January 2018).

Let's start by looking at the three-month price chart for BNB:

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According to CryptoCompare, BNB-USD went up from $6.48 on January 18 to $21.78 on April 18, i.e. an increase of over 236%.

What is behind that this highly impressive performance?

In short, tons of good news about Binance! Here are the main highlights:

Now, to get a better idea of the effect of today's announcement about the launch of the Binance Chain mainnet, we need to look at the 24-hour price chart for BNB:

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The two big spikes you see in this chart, one around 07:00 (UTC + 03:00) and the other around 16:00 (UTC + 03:00) correspond to the following tweets from the Binance account:

 

Featured Image Credit: Photo by "xresch" via Pixabay.com