Economy
CryptoLocally Lists Dogecoin on Decentralized P2P Platform
By Adedapo Adesanya
CryptoLocally has announced that Dogecoin (DOGE) will be available to trade on its decentralized peer-to-peer (P2P) trading platform, giving Nigerian cryptocurrency traders ease of transactions.
DOGE, the cryptocurrency that started as a joke, has become a poster child of the entire industry. Now, users will be able to take advantage of Dogecoin’s bullish market trend.
In a press release, the company stated that as part of efforts to offer the very best P2P trading experience to its customers, there is no better way than by offering one of the hottest cryptocurrencies out in the market today.
“Our relentless effort to bring the best P2P trading experience to our customers has led us to continually innovate and evolve. GIVernance, our governance platform, is one of the fruits of this labour. It empowers our community to take a more active role in steering the development of our platform.
“This shared-governance model gave a powerful voice to our users, using GIV to support proposals that bring more value to CryptoLocally’s ecosystem. In fact, the listing of Dogecoin on our platform is a community-driven initiative led and approved by GIVernance participants.
“The listing of Dogecoin by the community is a fitting example of the workings of a truly decentralized P2P trading venue.
“In CryptoLocally, we give traders what they want when they want it,” it noted.
Dogecoin was created in 2013 by Jackson Palmer and Billy Markus as a light-hearted and fun crypto project. It was meant to be a satirical take on cryptocurrencies with no particular purpose other than a reward mechanism for online content.
The crypto project was based on the popular “Doge” Internet meme and features Shibu Inu as its logo. It was officially launched by Jackson Palmer on December 6, 2013, with the release of its official website. Surpassing all expectations, the website had over one million views within one month of launching.
At the time, DOGE briefly surpassed all trading volumes of all cryptocurrencies combined; even that of Bitcoin. It owes its success to the fun-loving Dogecoin community which has grown tremendously throughout the years.
Mr Markus developed Dogecoin’s protocol based on Litecoin’s scrypt technology. It was meant to be more ASIC resistant and promote more decentralized mining activity on the Dogecoin network.
However, Dogecoin offers faster transactions and confirmations than Litecoin as it has a block time of only one minute compared to the latter’s 2.5 minutes. The transaction fee of Dogecoin is also comparable to that of Litecoin’s, making DOGE a very good alternative to Litecoin as a payment network.
Despite its apparent advantages, DOGE never positioned itself as a payment network nor as an investment vehicle. There is no clear logical reason why people love promoting, holding, and using DOGE. Its unique charisma allowed it to quickly develop a vibrant and strong online community.
It consistently got the attention of business magnate, Elon Musk, and more recently, legendary music artists Snoop Dogg and Gene Simmons. Snoop Dogg put an online mock album with an image caption “Snoop Doge,” while Gene Simmons of rock band KISS called himself the “God of Dogecoin.”
Economy
BNB Price Reflects Changing Dynamics in the Digital Asset Market
Economy
NASD Unlisted Security Index Crosses 4,000-point Benchmark Again
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange achieved a milestone on Friday, April 24, 2026, after five securities on the platform helped with a 1.85 per cent growth.
Data showed that the NASD Unlisted Security Index (NSI) again crossed the 4,000-point benchmark yesterday.
The index chalked up 73.64 points during the trading day to close at 4,052.59 points compared with the preceding session’s 3,978.95 points, while the market capitalisation added N5.38 billion to finish at N2.424 trillion versus Thursday’s closing value of N2.380 trillion.
The price gainers were led by Okitipupa Plc, which grew by N25.00 to sell at N305.00 per share compared with the previous price of N280.00 per share. Central Securities Clearing System (CSCS) Plc gained N6.92 to close at N76.26 per unit versus N69.34 per unit, Afriland Properties Plc appreciated by N1.00 to N17.00 per share from N18.00 per share, FrieslandCampina Wamco Nigeria Plc improved by 55 Kobo to N99.55 per unit from N99.00 per unit, and Food Concepts Plc increased by 5 Kobo to N2.70 per share from N2.65 per share.
However, there was a price loser, MRS Oil, which dipped by N21.75 to N195.75 per unit from N217.50 per unit.
During the final session of the week, the value of securities jumped 75.2 per cent to N41.3 million from N23.6 million units, and the number of deals expanded by 62.9 per cent to 44 deals from 27 deals, while the volume of securities declined marginally by 0.9 per cent to 447,403 units from 451,522 units.
At the close of trades, Great Nigeria Insurance (GNI) Plc was the most traded stock by volume (year-to-date) with 3.4 billion units worth N8.4 billion, trailed by Resourcery Plc with 1.1 billion units valued at N415.7 million, and Infrastructure Guarantee Credit Plc with 400 million units traded for N1.2 billion.
GNI was also the most active stock by value (year-to-date) with 3.4 billion units sold for N8.4 billion, followed by CSCS Plc with 59.6 million units transacted for N4.0 billion, and Okitipupa Plc with 27.8 million units exchanged for N1.9 billion.
Economy
Naira Slips to N1,358/$1 as FX Reserves, Policy Uncertainty Concerns
By Adedapo Adesanya
It was not a good day for the Nigerian Naira in the currency market on Friday, April 24, as its value depreciated against the major foreign currencies at the close of transactions.
In the Nigerian Autonomous Foreign Exchange Market (NAFEX), it lost N4.53 or 0.33 per cent against the United States Dollar yesterday to trade at N1,358.44/$1, in contrast to the N1,353.91/$1 it was exchanged on Thursday.
Equally, the domestic currency slipped against the Pound Sterling in the official market during the session by N8.14 to close at N1,834.02/£1, compared with the previous rate of N1,825.88/£1 and dropped N8.01 against the Euro to sell at N1,590.73/€1 versus N1,582.72/€1.
Also, the Naira depreciated against the US Dollar at the GTBank FX desk on Friday by N4 to quote at N1,370/$1 compared with the previous session’s N1,366/$1, and at the parallel market, it depleted by N5 to settle at N1,380/$1 versus the preceding day’s N1,375/$1.
Data published by the Central Bank of Nigeria (CBN) indicated that NFEM interbank turnover surged to N43.562 million across 68 deals, up from N28.117 million the previous day.
Despite the CBN’s reassurance that the recent drop in external reserves is not worrisome, the market remains unsettled by persistent concerns over liquidity constraints, policy transparency, and weakening confidence in Nigeria’s FX market as gross reserves continue to decline to $48.4 billion.
The outlook for the Dollar appears supported by broader macro risks, including elevated oil prices tied to the tanker traffic disruptions in the Strait of Hormuz and a continued US-Iran standoff over ceasefire negotiations.
A look at the digital currency market showed that investors are sitting on the edge as the US Dollar rebounded amid geopolitical and inflation risks despite continued inflows into US spot bitcoin Exchange Traded Funds (ETFs).
Solana (SOL) rose by 1.2 per cent to sell $86.45, Cardano (ADA) appreciated by 1.1 per cent to $0.2517, Dogecoin (DOGE) grew by 0.9 per cent to $0.0989, Ripple (XRP) improved by 0.3 per cent to $1.43, Ethereum (ETH) soared by 0.2 per cent to $2,316.83, and Binance Coin (BNB) chalked up 0.1 per cent to sell for $637.44.
However, TRON (TRX) depreciated by 1.3 per cent to $0.3235, and Bitcoin (BTC) lost 0.2 per cent to close at $77,562.27, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) closed flat at $1.00 each.
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