A recently released preliminary report on the Global Crypto Adoption Index 2025 has revealed that Nigeria and Ethiopia lead other African countries in crypto adoption. This Index is compiled by Chainanalysis and is in its sixth edition.
Source: Chainanalysis
Nigeria Claims 6th, Ethiopia is 12th in Latest Crypto Adoption Index
Nigeria has remained the most crypto-involved country in Africa, according to the latest Global Crypto Adoption Index by Chainanalysis. The Index measures four sub-indices to arrive at the final position for each country, weighted on a Gross Domestic Product (Purchasing Power Parity) basis.
The four sub-indices measured are: on-chain cryptocurrency value received by centralized services, on-chain retail cryptocurrency value received by centralized services, on-chain cryptocurrency value received by DeFi protocols, and on-chain institutional cryptocurrency value received by centralized services.
Source: Chainanalysis
Nigeria ranked 7th, 8th, 3rd, and 8th, respectively, to finish with an overall index position of 6th.
Meanwhile Ethiopia finished 16th, 19th, 7th, and 20th, respectively, and ended up with an overall index rank of 12th.
Important Context: Nigeria Loses 4 Places, Ethiopia Surges Into Top 20
Although North Africa was classified with the Middle East as the MENA region, Nigeria and Ethiopia are still ranked above any of the North African countries. No North African country made the top 20.
Furthermore, despite retaining its first place in Africa, Nigeria dropped from 2nd to 6th in the overall rankings. Ethiopia also went from being outside the top 20 in 2024 to a 12th place ranking this year.
Source: AfricaGUIDE
Sub-Saharan Africa also saw a 52% rise in crypto adoption from 2024. This is driven by the real-world utility of cryptocurrencies, especially stablecoins, as a store of value and tool for daily payments and remittances.
This trend is expected to continue as Africa’s largely young population remains drawn to crypto, more crypto startups blossom and receive funding, and major fiat currencies experience volatility.
Also Read: Ripple USD (RLUSD) Expands to Africa
