Geography can’t prevent the spread of blockchain technology. Africa is proving this. The continent saw a 429% year-over-year increase in venture funding for blockchain deals in 2022, reaching $474 million, with Seychelles and South Africa raising the majority of the funds.
This growth has outpaced global funding growth and shows the potential of the African crypto market. The question on a lot of people’s lips is how this will impact demand for popular blockchain networks such as Bitcoin (BTC) and Ethereum (ETH), as well as newer entries like Signuptoken.com.
Africa’s Blockchain Funding Growth Outperforms Other Sectors
According to the 2022 African Blockchain Report, Africa’s blockchain funding growth was 12.5x higher than that of general African venture funding YoY, and the highest globally.
Blockchain deals in Africa raised $474 million in 2022, a 429% increase from the $90 million raised in 2021. Most of the deals came from the Seychelles and South Africa.
While Nigeria led in the number of blockchain startups receiving funding, it only accounted for 3.4% of all African blockchain venture funding, indicating that the median deal size has increased substantially, leading to more confidence in African blockchain ventures.
In terms of funding growth, Africa recorded the most significant increase globally, compared to the United States, which maintained steady funding at $15.2 billion. Asia and Europe also experienced YoY increases in funding, with $4.74 billion and $4.88 billion, respectively, indicating a 50% and 35% increase.
Bitcoin And Ethereum’s Dominance
Bitcoin and Ethereum have gained popularity in Africa over the years, with a growing number of individuals and businesses adopting them as a means of payment and investment.
There have been reports of increased trading volumes in African countries such as Nigeria, South Africa, and Kenya, indicating a growing interest in cryptocurrencies in the region.
Additionally, some African countries have taken steps towards integrating cryptocurrencies into their financial systems, which could lead to further adoption and use of Bitcoin and Ethereum in the future.
With further funding in blockchain technology, the appeal of BTC and ETH is bound to also increase.
Signuptoken.com: The Next Big Thing In African Crypto?
Signuptoken.com has positioned itself as the next big crypto in the African crypto market with its user-friendly interface, cross-chain support, and DeFi offerings. The platform’s referral system is an added incentive for users to invite their friends to join, making it even more attractive to the African crypto community.
The token stands out from other cryptocurrency projects as it offers a unique approach to investment. Investors are invited to register on the platform using their email addresses, and the registration process is free.
The project’s community-centric model offers investors exclusive access to the token, which has the potential to generate significant returns. Signuptoken.com aims to achieve 1 million sign-ups before launching and will keep investors who register updated about the coin’s launch, ensuring that they do not miss out on the chance to participate in this potentially profitable project.
The African blockchain ventures have seen remarkable growth in recent years, outpacing global funding growth. While established blockchain networks such as Bitcoin and Ethereum have their strengths, Signuptoken.com is positioning itself as the next big crypto in the African crypto market.
You can participate in the referral program of Signuptoken.com to earn rewards by inviting others to join and share the platform.
Website: https://www.signuptoken.com
Twitter: https://twitter.com/_SignUpToken_
Telegram: https://t.me/SignUpToken
