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SOVRN to NGN Converter and calculator

SOVRN/NGN: 1 SOVRN = 24.39 NGN. The price of converting 1 SOVRUN (SOVRN) to Nigerian Naira (NGN) is 24.39 NGN today.
SOVRN
SOVRN
NGN
Last updated as of 2023/09/01 02:23:05 (UTC+0)Refreshrefresh
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Bitget converter provides SOVRN to NGN real-time exchange rates, making it easy to convert SOVRUN (SOVRN) to Nigerian Naira (NGN). The conversion result is based on real-time data. The conversion result shows that 1 SOVRN is currently valued at 24.39 NGN. Since crypto prices can change rapidly, we recommend checking back for the conversion result.
1 SOVRN is currently valued at 24.39 NGN, which means buying 5 SOVRN would cost 121.96 NGN. Similarly, ₦1 NGN can be converted to 0.04100 SOVRN, and ₦50 NGN can be converted to 0.2050 SOVRN, excluding any platform or gas fees.

Convert SOVRN to NGN

Convert NGN to SOVRN

SOVRUN
Nigerian Naira
50 SOVRN
1,219.58  NGN
100 SOVRN
2,439.15  NGN
200 SOVRN
4,878.3  NGN
500 SOVRN
12,195.76  NGN
1000 SOVRN
24,391.52  NGN
5000 SOVRN
121,957.6  NGN
10000 SOVRN
243,915.2  NGN
In the table above, you'll find a comprehensive SOVRN to NGN converter that shows the value of SOVRUN in Nigerian Naira across commonly used conversion amounts. The list covers conversions from 1 SOVRN to NGN, all the way up to 10000 SOVRN, providing a clear view of their respective values.
Nigerian Naira
SOVRUN
50000 NGN
2,049.89 SOVRN
100000 NGN
4,099.79 SOVRN
In the table above, you'll find a comprehensive NGN to SOVRN converter that shows the value of Nigerian Naira in SOVRUN across commonly used conversion amounts. The list covers conversions from 1 NGN to SOVRN, all the way up to 100000 NGN, providing a clear view of their respective values.

SOVRN to NGN chart

SOVRN/NGN: 1 SOVRN = 24.39 NGN; 2025/05/06 18:46:40
In the past 1D, SOVRUN has changed -3.06% to NGN. Based on the trend and price charts, SOVRUN(SOVRN) has changed -3.06% to NGN while Nigerian Naira(NGN) has changed % to SOVRN in the last 24 hours.
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SOVRN to NGN conversion data: Volatility and price changes of SOVRUN in NGN

The highest SOVRUN price in NGN over the past 7 days was 25.58 NGN while the lowest SOVRUN price in NGN over the past 7 days was 21.65 NGN. The relative change between the highs and lows in SOVRUN price in NGN over the last 7 days indicates a volatility of %. You can view additional volatility data and SOVRN to NGN prices for the past 24 hours, 30 days, and 90 days in the table above.
Last 24 hoursLast 7 daysLast 30 daysLast 90 days
High
25.47 NGN
25.58 NGN
26.18 NGN
52.37 NGN
Low
24.13 NGN
21.65 NGN
13.03 NGN
13.03 NGN
Average
0 NGN
0 NGN
0 NGN
0 NGN
Volatility
%
%
%
%
Change
-3.06%
+3.21%
+26.69%
-53.88%

SOVRUN information

SOVRN to NGN market statistics

SOVRN/NGN:
₦24.39
SOVRN 24h volume:
₦224,499,165.42
SOVRN market cap:
₦4,559,232,807.7
SOVRN circulating supply:
186.92M SOVRN

Current SOVRN to NGN exchange rate

SOVRUN to Nigerian Naira is rising this week.
SOVRUN's current market price is ₦24.39 per SOVRN, with a total market cap of ₦4,559,232,807.7 NGN based on a circulating supply of 186,918,770 SOVRN. The trading volume of SOVRUN has changed by +17.79% (₦33,899,810.64 NGN) in the last 24 hours. Last trading day, SOVRN's trading volume was ₦190,599,354.78.

More info about SOVRUN on Bitget

Nigerian Naira information

About the Nigerian Naira (NGN)

What Is the Nigerian Naira (NGN)?

The Nigerian Naira is the official currency of Nigeria, a country in West Africa. The Naira is symbolized by ₦ and has the currency code NGN. One Naira is divided into 100 Kobo. As Africa's largest economy, Nigerian Naira plays a crucial role both domestically and in the African financial landscape. The Nigerian Naira is the sole legal tender in Nigeria, and it is used for all transactions within the country.

The Nigerian Naira is issued by the Central Bank of Nigeria (CBN), which is the sole issuer of legal tender money throughout the Federal Republic of Nigeria. The CBN is responsible for the design, production, and distribution of the currency, as well as for implementing monetary policy and maintaining the value of the Naira.

What Is the History of NGN?

The Nigerian Naira, introduced on January 1, 1973, marked a significant milestone in Nigeria's economic history, replacing the Nigerian pound at a rate of 2 Naira for 1 pound. This transition signified Nigeria's shift from the British pound sterling to a distinct and independent decimal currency system. The name 'Naira' was derived from 'Nigeria', symbolizing the nation's sovereignty in monetary matters. The initial series of banknotes and coins were the first to be issued by an independent Nigeria, with the coins being the last to feature Queen Elizabeth II, reflecting the country's colonial history.

Notes and Coins of NGN

The Nigerian Naira (NGN) comprises a variety of coins and banknotes, each with distinct values and designs. Coins in circulation include denominations of 50 Kobo, 1 Naira, and 2 Naira. Banknotes are issued in denominations of ₦5, ₦10, ₦20, ₦50, ₦100, ₦200, ₦500, and ₦1000.

What Is eNaira?

The eNaira is the first African central bank digital currency (CBDC). Launched on October 25, 2021, by President Muhammadu Buhari, the eNaira is issued and regulated by the Central Bank of Nigeria (CBN). It operates as a legal tender, just like physical Naira, but in a digital form, maintaining a one-to-one value with the traditional Naira. The eNaira aims to enhance financial inclusion, improve payment efficiency, and facilitate seamless cross-border transactions. It operates on a blockchain network, allowing peer-to-peer transactions without intermediaries, distinguishing itself from decentralized cryptocurrencies like Bitcoin by running on a private blockchain controlled by the CBN. Users access the eNaira through digital wallets, with transactions promising speed, reduced costs, and increased convenience.

Is NGN Pegged to GBP?

No, the Nigerian Naira (NGN) is not pegged to the British Pound Sterling (GBP). The Naira operates on a floating exchange rate system, where its value is determined by market forces based on supply and demand in the foreign exchange market.

Historically, Nigeria used the British Pound Sterling during its time as a British colony and for some years after gaining independence. However, in 1973, Nigeria introduced the Naira to replace the Pound Sterling and established its own monetary system. Since then, the Naira has not been pegged to the Pound Sterling or any other foreign currency but has been subject to fluctuations in the international currency markets.

Is NGN a Stable Currency?

The Nigerian Naira (NGN) has historically faced challenges regarding stability. The Naira had been experiencing significant fluctuations, largely due to factors such as political instability, economic challenges, and fluctuations in oil prices, which is a major revenue source for Nigeria. For instance, in 2021, the official exchange rate of the Naira to the US Dollar was around 380 NGN to 1 USD, while the parallel market rate was much higher, around 475 NGN to 1 USD. In June 2023, the Naira fell 23% in a day to a rate of ₦600 to US$1. This discrepancy indicates ongoing challenges in achieving currency stability.

Bitget crypto-to-fiat exchange data shows that the most popular SOVRUN currency pair is the SOVRN to NGN, with for SOVRUN's currency code being SOVRN. Use our cryptocurrency calculator now to see how much your cryptocurrency can be exchanged for NGN.

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SOVRN to NGN Conversion tables

The exchange rate of SOVRUN is increasing.
The exchange rate of 1 SOVRN to Nigerian Naira has changed by +3.21% in the last 7 days. In the last 24 hours, the rate has fluctuated by -3.06%, reaching a high of 25.47 NGN and a low of 24.13 NGN . One month ago, the value of 1 SOVRN was ₦19.25 NGN , which represents a +26.69% change from its current value. Over the last year, SOVRUN has changed by
-
54.64NGN
, resulting in a change of -69.13% in its value.
24 hours ago1 month ago1 year ago
Amount18:46 today24 hours ago24h change
0.5 SOVRN₦12.2₦12.58
-3.06%
1 SOVRN₦24.39₦25.16
-3.06%
5 SOVRN₦121.96₦125.81
-3.06%
10 SOVRN₦243.92₦251.62
-3.06%
50 SOVRN₦1,219.58₦1,258.08
-3.06%
100 SOVRN₦2,439.15₦2,516.16
-3.06%
500 SOVRN₦12,195.76₦12,580.82
-3.06%
1000 SOVRN₦24,391.52₦25,161.65
-3.06%

SOVRN to NGN FAQ

How much is 1 SOVRUN in NGN?
Right now, the price of 1 SOVRUN (SOVRN) in Nigerian Naira (NGN) is ₦24.39.
How much SOVRN can I buy for 1 NGN?
Based on the current exchange rate, you can get 0.04100 SOVRN for 1 NGN.
How do I calculate or convert SOVRN to NGN?
You can use our SOVRN to NGN calculator at the top of this page to convert any amount of SOVRN to NGN. We've also included quick-reference tables for the most popular conversions. For example, 5 NGN is equivalent to 0.2050 SOVRN, while 5 SOVRN will cost around 121.96NGN.
What is the highest price of SOVRN/NGN in history?
The all-time high price of 1 SOVRN in NGN is ₦2,456.65. It remains to be seen if the value of 1 SOVRN/NGN will exceed the current all-time high.
What is the price trend of SOVRUN in NGN?
Over the past 7 days, the exchange rate of SOVRUN (SOVRN) has gone up by 3.21%.   Over the last month, the exchange rate of SOVRUN (SOVRN) has gone up by 26.69% against Nigerian Naira (NGN).

What factors influence the conversion rate of SOVRN to NGN?

There are many factors that affect the relationship between SOVRUN and Nigerian Naira, spanning multiple dimensions such as macroeconomic trends, policy regulation, and technological innovation. Specifically, the following key factors play an important role:
Market sentiment:Investor sentiment and confidence have a significant impact on the dynamics of SOVRN/NGN. When there is positive news in the market about the widespread adoption of SOVRN or major technological breakthroughs, it tends to trigger market optimism and drive the rise of SOVRN/NGN. Conversely, negative news, such as regulatory crackdowns and security vulnerabilities, may trigger market panic and lead to a decline in SOVRN/NGN.
Regulatory environment:Government policies and regulations surrounding cryptocurrencies have a direct impact on their acceptance, which in turn determines their value relative to traditional currencies such as the US dollar. Clear and supportive regulations can enhance investor confidence in cryptocurrencies and drive their value up. Conversely, vague or overly strict regulatory policies may hinder the development of cryptocurrencies and cause their value to fall.
Economic indicators:Macroeconomic factors in the country where the fiat currency is issued—such as inflation rates, interest rates, and key economic growth indicators—play a crucial role in determining the fiat currency's value and indirectly affect the exchange rate of SOVRN/NGN. For example, high inflation rates may lead to a decrease in market trust in fiat currencies, thereby increasing investors' demand for cryptocurrencies such as Bitcoin as a hedge, driving up their prices.
Technological progress:The continuous development and innovation of blockchain technology, as well as various improvements in the cryptocurrency ecosystem—such as expansion solutions and security enhancements—have provided strong support for the value growth of cryptocurrencies like Bitcoin.
Investors must understand these dynamics to avoid making wrong decisions. After considering these factors, investors should also closely monitor future changes in the price of SOVRUN and adjust their investment strategies accordingly in the evolving market.

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This content is being provided to you for informational purposes only, does not constitute an offer, or solicitation of an offer nor a recommendation by Bitget to buy, sell, or hold any security, financial product, or instrument referenced in the content, and does not constitute investment advice, financial advice, trading advice, or any other sort of advice. Data presented may reflect asset prices traded on the Bitget exchange as well as other cryptocurrency exchanges and market data platforms. Bitget may charge fees for the processing of cryptocurrency transactions which may not be reflected in the conversion prices displayed. Bitget is not liable for any errors or delays in content or for any actions taken in reliance on any content.