Why These 3 Altcoins Are Dominating Nigeria’s Crypto Scene in 2025

LAGOS—While traditional banks keep tightening capital controls, Nigeria's crypto traders are flocking to three digital assets that bypass the system entirely.

P2P Power Plays

Nigerians aren't just buying these altcoins—they're building entire economic ecosystems around them. From Lagos market traders settling invoices to freelance developers receiving cross-border payments, these tokens cut through banking red tape like a hot knife through butter.

Regulatory Dodgeball

The Central Bank's latest crackdown did precisely nothing to slow adoption. If anything, it pushed more users toward decentralized alternatives that laugh at geographic boundaries. Traders now execute deals faster than regulators can draft new prohibitions.

Mobile-First Revolution

With smartphone penetration hitting 65% nationally, these altcoins leverage Africa's mobile banking revolution without the banking part. No surprise they're outperforming traditional assets while making financial advisors look like they're still using fax machines.

The triple-threat combination of utility, accessibility, and pure regulatory defiance explains why Nigeria's crypto scene keeps thriving against all odds—proving once again that money flows where it's treated best.

STBL

STBL, the native coin of the RWA-backed stablecoin protocol STBL, is one of the digital assets trending among Nigerian traders. 

At press time, the altcoin trades at $0.4808. It has noted a 79% uptick in the past seven days, and is poised to keep climbing, thanks to the positive readings on its Balance of Power (BOP) indicator.

At press time, this is at 0.05. The BOP measures the strength of buying versus selling pressure over a given period, with positive values signaling that buyers are in control. 

STBL’s BoP suggests that buying interest in the altcoin remains strong, despite ongoing bearish momentum. If demand continues to grow, the token could break above the price wall at $0.4986 and reclaim its all-time high of $0.6112.

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Conversely, any weakening in buying pressure could trigger a pullback toward the $0.4102 support level.

HEMI

While the broader market dips, HEMI has posted an eye-catching 109% surge over the past week, making it one of the trending cryptocurrencies in Nigeria today.  

However, there is a catch. This triple-digit rally has coincided with a decline in the token’s Chaikin Money FLOW (CMF), forming a bearish divergence. At press time, this key momentum indicator is below the zero line at -0.9.

The CMF measures the Flow of money into or out of an asset, with declining readings during price rises suggesting that buying volume is weakening. 

This divergence indicates that while HEMI’s price has trended higher, the rally may not be fully supported by sustained buying, leaving it vulnerable to short-term corrections.

In this scenario, it could shed recent gains, plunge under $0.1273, and fall to $0.1065

However, if new demand enters the market and backs HEMI’s rally, it could push its value toward $0.1569.

Plasma (XPL)

Newly launched Layer-1 coin XPL is another altcoin trending among crypto traders in Nigeria today. 

The stablecoin-focused Plasma blockchain’s native token, XPL, began trading on major exchanges, including Binance and OKX, on Thursday and has since seen a significant surge in trading volume.

Over the past day, the coin’s daily trading volume has rocketed by over 300,000% to reach $7.12 billion. This massive influx of trading activity has coincided with a 54% uptick in XPL’s price, reflecting strong interest from traders.

If this continues, it could push XPL’s price above $1.2832 and toward its all-time high of $1.4474. 

However, XPL’s ballooning trading volume could propel the coin to euphoric price levels that may prove unsustainable. Once buyer exhaustion sets in, the altcoin could quickly lose momentum and face a pullback toward $1.1543.