Bitcoin galloped beyond the $45,000 mark on Tuesday, achieving a milestone not seen since April 2022.

This surge follows the cryptocurrency’s impressive 156% gain in 2023, marking its most robust yearly performance since 2020.

Currently standing at $45,318, Bitcoin is up by 2.5%, although it remains a considerable distance from its record high of $69,000 in November 2021.

ALSO READ: Ontario senior loses $16,500 in bank investigator scam

Ethereum, the second-largest cryptocurrency, also experienced gains, rising by 1.2% to $2,386.50 on Tuesday.

This comes after a noteworthy 91% surge in 2023, reflecting positive momentum in the cryptocurrency market.

The performance of crypto stocks mirrored the upward movement of Bitcoin, with companies such as Riot Platforms, Marathon Digital, and CleanSpark witnessing increases ranging from 7% to 10% after substantial declines on the last trading day of 2023.

Meanwhile, in the world of cryptocurrency adoption, Nigeria has maintained its position as the leader in Africa. Recent developments indicate that the country is among the most advanced in terms of crypto usage.

The Central Bank of Nigeria (CBN) has undergone a significant shift in its stance on digital currencies.

Having lifted the ban on crypto transactions, initially implemented in February 2021, the CBN issued a new circular on December 22, 2023.

This circular provides guidelines for banks and financial institutions regarding account openings, settlement services, and acting as channels for foreign exchange inflows and trade for firms dealing with crypto assets.

ALSO READ: Hackers stole $2 billion in crypto in 2023 – De.FI

Despite past regulatory constraints, Nigeria’s crypto market has displayed resilience and growth.

According to a report by New York-based blockchain research firm Chainalysis, the country’s volume of crypto transactions increased by 9% year-over-year, reaching $56.7 billion between July 2022 and June 2023.