The Turkish lira (TRY) has recorded a record share of the cryptocurrency trading volume at 19%. The increase reflects the impact of high inflation and currency devaluation in the Turkish economy. According to Kaiko, TRY surpassed the Euro (EUR) to become the third largest fiat currency by volume.
Bitcoin (BTC) trading on TRY also hit a new high, indicating an increase in investor interest in the safe-haven asset. Kaiko pointed out that one of the reasons for TRY's increased market share was Binance's loss of a banking partner, which led the exchange to withdraw its GBP and AUD trading pairs, further enhancing TRY's position in the cryptocurrency market.
The data revealed that Turkey's foreign exchange volatility and monetary policy volatility are driving the expansion of its cryptocurrency market, providing investors with new trading opportunities and strategies for reacting to market movements.
Turkish lira cryptocurrency market share hits new high
2024-06-12 21:36:37
Disclaimer:
1. The information provided does not constitute investment advice. Investors should make independent decisions and bear all risks themselves.
2. The copyright of this content belongs to the original author. The views expressed herein are solely those of the author and do not represent the stance or position of this website.
Previous article：
土耳其里拉加密货币市场份额创新高Next article：
莫斯科交易所将停止使用美元和欧元进行场内交易
