Cryptocurrency investors in Turkey are known for closely following market developments, and recently, the investments made by Turkish users have been attracting significant interest. In the last 24 hours, there has been a noticeable increase in transactions involving cryptocurrencies paired with the Turkish lira (TRY) on Turkish exchanges. So, which cryptocurrencies were the most popular among Turkish investors?
Finding out which altcoins are being traded by Turks can be done in two ways. Some investors prefer to constantly monitor the order books of local exchanges on multiple screens to accurately assess the volumes. Another, easier method is to visit the website 21milyon.com, which provides the desired data and allows investors to easily track the volume situation on local exchanges. On this website, investors can not only view the volumes, exchange details, altcoin prices, and other information but also stay updated with the latest news.
According to data from 21milyon.com, the transaction volume in local exchanges in the past 24 hours amounted to $404,464,407.40, equivalent to 13,099,793,227.00 TL. Topping the list is the dollar-pegged stablecoin Tether, indicating that Turkish investors are accumulating Tether with the intention of making substantial investments. In second place is Bitcoin, the undisputed leader of the markets, with a 24-hour trading volume of over 1,347 billion TL.
A notable trend in the list is the dominance of meme coins. PEPE, BONK, and FLOKI, which gained popularity in the past year, occupy the 3rd, 4th, and 5th positions respectively. They are followed by LUNC, the biggest disappointment of 2022, and XPR, which is under scrutiny by the SEC. The list also highlights the interest of Turkish investors in AI-focused projects, suggesting that they are making investments in AI tokens in anticipation of a potential bull run.
It’s important to note that the information provided in this article does not constitute investment advice. Investors should be aware of the high volatility and risks associated with cryptocurrencies and conduct their own research.
