Today on KWIQ: 1 USDT = ₦1,335.67 · 1 BTC = ₦109,183,676
All rates →KWIQ Naira Crypto Report · March 2018
Bitcoin fell 32.8% in March 2018, to $6,929
Bitcoin fell 32.8% in March 2018, from $10,307 to $6,929, and ether fell 53.6%. The CBN’s official rate averaged ₦305.24 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
$6,929
Down 32.8% on the month
CBN official rate, end of month
₦305.15
Averaged ₦305.24 per dollar
Ether at the end of the month
$395
Down 53.6% on the month
Bitcoin’s high for the month
$11,646
Low: $6,600
Bitcoin and ether in dollars
Bitcoin fell 32.8% in March 2018, from $10,307 to $6,929, with a high of $11,646 and a low of $6,600. Ether fell 53.6%, to $395.
Bitcoin’s price at the end of each of the last 12 months, in US dollars.
View as a table
| Month | Bitcoin | Ether |
|---|---|---|
| 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 |
| Feb 2018 | $10,307 | $850 |
| Mar 2018 | $6,929 | $395 |
The naira: official and market rates
The CBN’s official rate stayed at about ₦305.24 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 |
|---|---|---|---|
| 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 | – |
| Feb 2018 | ₦305.39 | No data | – |
| Mar 2018 | ₦305.24 | No data | – |
What happened in March 2018
The month’s main events in crypto, and in Nigeria.
- On 14 March Google said it would stop showing adverts for crypto from June.
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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