The trading number of Paxful – Peer-to-Peer (P2P) crypto trading marketplace – has witnessed a dramatic increase in the Africa region, leaping up to 2,800%, compared to October last year. 

Specifically, Paxful has revealed the Africa-focused statistics via a blog post on October 28. The platform has also listed the names of 3 top nations in Africa with the largest pool of customers, which respectively are Johannesburg, Pretoria and Cape Town. 

Paxful further disclosed that the total number of Africa-based trades finalized also experienced a sharp incline of 64%, when compared to the same month of 2018.

Moreover, Paxful claimed to facilitate around 3 million wallets and processes of over 50,000 trades globally. 

In January 2019, Paxful revealed that the Africa-based processed transactional volume has witnessed a 130% surge – with 17,351 trades on average, conducted daily. 

Africa, with the main focus on the region of South Africa, is reportedly expected to become one of the potential markets for crypto exchange firms to establish and expand their businesses. 

Previously, Finland-based P2P Bitcoin (BTC) trading firm LocalBitcoins has scraped its in-person cash trading feature from the systems due to regulation-related reasons. The trading volume of the firm has also suffered a sharp decline, with beneficial gains acquired by its rivals – Paxful and HodlHodl.