Welcome to the weekly peer-to-peer (P2P) round-up. Each week, we take a quick look at the P2P trading volumes of the top 10 African markets on the LocalBitcoins platform to get a sense of local crypto activity. Charts showing long term trends can be found here.

• Africa Combined: After eight weeks of declining volume, Africa Combined* finally bounced, driven by a week of volume growth across seven of the top ten markets. For the week ended 4 September, Africa Combined volume on LocalBitcoins was $1.65 million, which represented an 11% improvement on the previous week’s volume of $1.49 million in the week ended 28 August. Transactions came in at 5,612 for the week ended 4 September, which was a 7% improvement on the previous week’s count of 5,229. While the bounce in volume at this level is a welcome change after eight weeks of one-sided action, sentiment remains negative in the broader crypto market and so it remains to be seen whether this change in direction can last.

• Nigeria: Nigeria’s volume for the week ended 4 September was $474.7K, which represented a 15% improvement on the previous week’s volume of $412.8K. This marks the second week of improving volume for Nigeria and is the highest volume week we’ve seen from the country in six weeks. Transactions came in at 1,389 in the week ended 4 September, which represented a 4% improvement on the previous week’s count of 1,330.

• South Africa: SA’s volume for the week ended 4 September was $626.2K, which represented a 6% improvement on the previous week’s volume of $589.0K. Transactions were 1,309 in the week ended 4 September, which was a 19% improvement on the previous week’s count of 1,101. The gap between Nigeria and SA for the top spot in YTD volume terms now sits at $1.46 million as of the week ended 4 September, down from $1.61 million in the previous week.

• Kenya: Kenya’s volume for the week ended 4 September was $349.0K, which was a 16% improvement on the previous week’s volume of $301.7K. This marks the second week of improving volume for Kenya. Transactions came in at 1,984 in the week ended 4 September, which was a 6% improvement on the previous week’s count of 1,870.

• Morocco: Morocco’s volume for the week ended 4 September was $60.9K, which represented a 45% improvement on the previous week’s volume of $41.9K. Transactions came in at 136 in the week ended 4 September, which represented a 13% improvement on the previous week’s count of 120.

• Tanzania: TZ’s volume for the week ended 4 September was $49.2K, which represented a 3% improvement on the previous week’s volume of $47.8K. Transactions came in at 227 for the week ended 4 September, which was 4% below the previous week’s count of 236.

• Egypt: Egypt’s volume for the week ended 4 September was $30.5K, which represented an 18% improvement on the previous week’s volume of $25.7K. Transactions were 118 in the week ended 4 September, representing a 5% decline on the previous week’s count of 124.

• Botswana: Botswana’s volume for the week ended 4 September was $25.6K, which represented a 2% improvement on the previous week’s volume of $25.2K. Transactions came in at 232 in the week ended 4 September, representing a 10% improvement on the previous week’s count of 211.

• Zambia: Zambia’s volume for the week ended 4 September was $11.6K, which represented a 4% decline on the previous week’s volume of $12.2K. Transactions came in at 68 in the week ended 4 September, representing a 1% decline on the previous week’s count of 69. This week, Zambia finally passed Angola to claim 8^th place on LocalBitcoins for YTD volume.

• Angola: Angola’s volume for the week ended 4 September was $3.6K, which represented a 33% decline on the previous week’s volume of $5.3K. Transactions came in at 18 in the week ended 4 September, which represented a 38% decline on the previous week’s count of 29. 

• Ghana: Ghana’s volume for the week ended 4 September was $1.5K, which represented a 72% decline on the previous week’s volume of $5.1K. Transactions came in at 9 in the week ended 4 September, representing a 74% decline on the previous week’s count of 34.

* Africa Combined is the aggregate of 20 African markets on LocalBitcoins that we currently aggregate data on. USD volumes are USD equivalent, meaning they are converted from local currency volumes.  

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