Investors Drive Bitcoin and Tether Trading in Turkey

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by Giorgi Kostiuk

2 years ago

Made with AI

  1. Market Overview
  2. Most Traded Cryptocurrencies
  3. Analysis of Traded Assets


    4. The ongoing decline in Bitcoin since last month seemed to increase investor anxiety. Despite the Fed’s continued statements about lowering interest rates, general economic uncertainties are known to have negative effects on the market.

    Market Overview

    In August, the price dropped to $48,800 but recovered to $65,000. However, things didn’t go well, and the decline continued. Let’s take a look at which cryptocurrencies Turkish investors traded the most in the last 24 hours in the TRY pair on Turkish exchanges.

    Most Traded Cryptocurrencies

    Investor interest in different projects can be reflected periodically in the charts. Meme coins and AI tokens, which were frequently mentioned in the past, seem to have lost strength recently. Despite all these developments, USDT and BTC continue to maintain their top positions on the list.

    Analysis of Traded Assets

    According to data provided by 21milyon.com, the 24-hour trading volume is at the level of 288,600 million dollars, which is approximately 9.861 billion TRY. Based on the obtained data, it wouldn't be wrong to say that there is a shift of interest towards Bitcoin and the largest stablecoin by volume, Tether.

    Bitcoin and Tether continue to hold leading positions among cryptocurrencies on Turkish markets despite general economic uncertainty and volatility. This trend is likely to continue in the near future, emphasizing the importance of these assets for local investors.

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