Egypt, Morocco Among Top Africa’s Countries Most Interested in Crypto

Egypt and Morocco emerged among the top African countries that are interested in cryptocurrencies and digital assets despite the crypto ban imposed in these two countries, according to a new report by Coingecko.

Morocco and Egypt came in third and fifth places, respectively, among the top 15 African countries that represent a majority 97.5% of crypto interest in the continent this year from January 1 till July 4.

According to the report, South Africa was the top country that showed the highest level of crypto interest in Africa in 2023 so far. It represents 66.8% of crypto interest in the continent year to date (YTD), which is almost eight times the next most interested African country.

Egypt and Morocco, in addition to South Africa, Ghana, and Côte d’Ivoire, represent 23.8% of the continent’s interest in crypto YTD as they rank from second to sixth places among African countries most interested in crypto this year.

Only 41 out of the 54 African countries have recorded any interest in crypto this year, while 13 countries currently have no share at all in crypto interest across Africa, Coingecko pointed out.

As for the regions in Africa, West Africa was the most interested region in the continent in crypto with a percentage of 74.7%, followed by Northern Africa (10.0%), Southern Africa (9.6%), East Africa (3.8%) and Central Africa (1.9%).

Regarding the most popular cryptocurrencies in African countries, Peepo (PEEPO), Liquity (LQTY), and Conflux (CFX) were the most popular cryptocurrencies in Nigeria, while Sweatcoin (SWEAT), Arbitrum (ARB) and Pepe (PEPE) are the most popular cryptocurrencies in Egypt.

In Morocco, Dogecoin (DOGE), Ripple (XRP), and Bonk (BONK) were the most popular.

It is worth mentioning that Egypt was also previously identified as the ninth among the world’s countries most impacted by FTX’s collapse last year.