Similarly, some major altcoins are rising steadily in the
last 24 hours, with Ethereum climbing 3.17 percent to $3,673.12, while Solana
rose by 5.46 percent to $134.94.
The crypto market capitalisation has increased by 54.10
percent to $222.06 billion within a day.
According to reports, the record is buoyed by the largest
cryptocurrency becoming more accessible for trade as supplies tighten.
Meanwhile, the development comes amid the federal
government’s clampdown on the crypto exchange over regulatory contraventions in
Nigeria.
Bayo Onanuga, special adviser to President Bola Tinubu on
information and strategy, on February 21, 2024, said Binance and other cryptocurrency
platforms should be banned from operating in the country.
Also on February 27, 2024, Olayemi Cardoso, governor of the
CBN, said $26 billion passed through Binance Nigeria from unidentified sources
in one year.
Cardoso said the apex bank is collaborating with the
Securities and Exchange Commission (SEC) to ensure there is no manipulation in
the FX market.
On March 1, 2024, the federal government reportedly demanded
at least $10 billion as a settlement from Binance for profiting from “its
illegal transactions” in Nigeria — days after two top executives of the crypto
platform were detained.
Following the restraint on its operations in the country, on
Tuesday, Binance Nigeria announced plans to cease all naira transactions, from
March 8, 2024.
