Arcane Research and Kryptografen are both owned by Arcane Crypto
In this week’s edition of ‘The Weekly Update’ by Arcane Research, they uncover the growing peer-to-peer bitcoin trading that is happening in Kenya.
Looking at the biggest P2P platforms, Paxful and LocalBitcoins, they see a significant boost in trading lately.
Last week, the weekly BTC volume in Paxful reached 100 BTC in Kenya.
Paxful is now the dominant player in the country, dethroning LocalBitcoins over the last months.
Kenya is stealing market shares in the P2P market and just surpassed 3% of the total BTC volume on Paxful.
The country is now accounting for 2.1% of the total P2P BTC market volume (Paxful + LocalBitcoins).
Since the beginning of 2019, the P2P bitcoin volume in Kenya has increased 190% measured in USD and is now above $1 million in weekly volume.
For more from ‘The Weekly Update’ click here to the full report here.