Economy
Ethiopia Records $3.7B in Crypto Transactions, Trailing Kenya
BirrMetrics · 2 hours ago · Read the Full Story on BirrMetrics
AI SUMMARY
Ethiopia recorded $3.7 billion in cryptocurrency transactions in the year ending June 2026, marking an 8 percent decline as neighbouring Kenya’s market expanded to $5.7 billion.
- Ethiopia recorded an estimated 3.7 billion US dollars in cryptocurrency transactions in the year ending June 2026.
- Ethiopia's transaction volume declined by eight percent during the reporting period, largely due to reduced activity on decentralised exchanges.
- Kenya's cryptocurrency market expanded by 38 percent to reach 5.7 billion US dollars during the same period.
- The findings were published by blockchain analytics firm Chainalysis on 29 October 2026.
- The National Bank of Ethiopia (NBE) maintains restrictions on unauthorised cryptocurrency transactions and virtual-asset services.
- South Africa remained sub-Saharan Africa's largest cryptocurrency market at 39.3 billion US dollars, followed by Nigeria at 38.1 billion US dollars.
- The Chainalysis figures represent estimated blockchain activity and do not measure net foreign-exchange outflows, capital flight, or financial losses.
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