Today on KWIQ: 1 USDT = ₦1,332.57 · 1 BTC = ₦108,903,510
All rates →KWIQ Naira Crypto Report · January 2018
Bitcoin fell 27.1% in January 2018, after December’s peak
Bitcoin fell 27.1% in January 2018, from $13,863 to $10,100, and ether rose 49.1%. The CBN’s official rate averaged ₦305.28 per dollar.
Based on public market data: Coinbase prices, the Central Bank of Nigeria’s official rate and Quidax’s naira markets. KWIQ’s own figures start in May 2021. How we measure
Bitcoin at the end of the month
$10,100
Down 27.1% on the month
CBN official rate, end of month
₦305.2
Averaged ₦305.28 per dollar
Ether at the end of the month
$1,105
Up 49.1% on the month
Bitcoin’s high for the month
$17,178
Low: $9,005
Bitcoin and ether in dollars
Bitcoin fell 27.1% in January 2018, from $13,863 to $10,100, with a high of $17,178 and a low of $9,005. Ether rose 49.1%, to $1,105, after setting a new record.
Bitcoin’s price at the end of each of the last 12 months, in US dollars.
View as a table
| Month | Bitcoin | Ether |
|---|---|---|
| Feb 2017 | $1,195 | $16.40 |
| Mar 2017 | $1,089 | $50.18 |
| Apr 2017 | $1,385 | $80.87 |
| May 2017 | $2,303 | $229 |
| Jun 2017 | $2,455 | $280 |
| Jul 2017 | $2,857 | $201 |
| Aug 2017 | $4,744 | $389 |
| Sep 2017 | $4,339 | $302 |
| Oct 2017 | $6,445 | $304 |
| Nov 2017 | $9,903 | $434 |
| Dec 2017 | $13,863 | $741 |
| Jan 2018 | $10,100 | $1,105 |
The naira: official and market rates
The CBN’s official rate stayed at about ₦305.28 per dollar. Quidax’s naira market figures start in August 2018, so this report has the official rate only.
The CBN’s official rate, naira per dollar, the average of each month.
View as a table
| Month | Official | Market | Gap |
|---|---|---|---|
| Feb 2017 | ₦304.81 | No data | – |
| Mar 2017 | ₦305.9 | No data | – |
| Apr 2017 | ₦305.55 | No data | – |
| May 2017 | ₦305.04 | No data | – |
| Jun 2017 | ₦305.21 | No data | – |
| Jul 2017 | ₦305.36 | No data | – |
| Aug 2017 | ₦305.17 | No data | – |
| Sep 2017 | ₦305.39 | No data | – |
| Oct 2017 | ₦305.12 | No data | – |
| Nov 2017 | ₦305.4 | No data | – |
| Dec 2017 | ₦305.81 | No data | – |
| Jan 2018 | ₦305.28 | No data | – |
What happened in January 2018
The month’s main events in crypto, and in Nigeria.
- Prices fell through the month as South Korea and China talked of tighter rules on crypto trading.
- On 26 January hackers stole about $530 million of tokens from Coincheck, a Japanese exchange.
- On 30 January Facebook banned adverts for crypto.
How we measure
- Bitcoin and ether prices are Coinbase’s daily prices in US dollars (UTC days): the first day’s opening price, the last day’s closing price and the month’s high and low.
- The official rate is the Central Bank of Nigeria’s central rate for the US dollar, on the days the CBN published one.
- Quidax’s naira markets start in August 2018. Until then this report has the official rate only, which in this period valued the naira well above the rates in Nigeria’s other dollar markets.
- Events are as reported at the time. They’re listed for context, not as the cause of any price move.
Use this report
Journalists, bloggers and researchers are welcome to quote this report and its figures, with a credit to KWIQ and a link to this page. For interviews or more detail, email admin@kwiq.app. For today’s rates, see crypto to naira rates.
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