Turkish investors are actively engaging with cryptocurrencies, mirroring a global trend of diversifying investment portfolios. Recent observations highlight an uptick in transactions conducted in the Turkish Lira (TRY) on local cryptocurrency exchanges. This report delves into the preferred digital currencies among the Turkish investment community over a 24-hour period.
Turkish Investors’ Altcoin Preferences
Cryptocurrency enthusiasts in Turkey have shown an inclination towards a variety of digital assets, with stablecoins like USDT and the popular Bitcoin (BTC) securing spots in the top 10. Other cryptocurrencies have caught the attention of the investment sphere, with meme coins and AI-based coins rising to prominence in recent discussions.
Investors in Turkey have been mirroring global trends, with heightened interest in certain altcoins. To gauge investor interest, monitoring local exchange order books and aggregating trade volumes have been common practices. Alternatively, websites like 21milyon.com offer simplified access to data regarding volume and transaction details across exchanges.
Leading Digital Currencies in 24-Hour Trade Volume
Data from 21milyon.com reveals that within the last day, exchanges processed transactions amounting to approximately $1.12 billion, or 37 billion TRY. Meme coin FLOKI led the charge with a trade volume of over 5.4 billion TRY. Following closely was GALA GAMES, with significant interest echoed in global markets, reaching nearly 3.7 billion TRY in trading volume.
Tether (USDT) earned the third spot, which aligns with its global volume positioning. The rising star PEPE held its own, while Bitcoin, typically the market leader, was ranked fifth, suggesting a shift in investor focus towards meme coins and metaverse projects. AI projects also made the list, with FETCH.AI landing in the tenth position, indicating investor interest in technological advancements.