The recent downturn in cryptocurrency markets has not dampened the spirits of Turkish investors, who have maintained a robust trading activity. The crypto market, recovering from a slump, has observed substantial engagement from Turkey, particularly in the last 24 hours. This report dives into the predominant crypto projects captivating investor attention in Turkey, drawing insights from 21milyon.com.
Trading Volumes Showcase Investor Resilience
Analytics from 21milyon.com reveal that the Turkish cryptocurrency market has managed a trading volume exceeding $652 million in just a day. This figure, equivalent to over 21 billion Turkish lira, marks one of the recent lows. However, the spike to over $1.5 billion earlier in March, driven by Bitcoin‘s price movements, underscores the vigorous interest of Turkish traders. Traditionally, the nation’s daily crypto trading volume scarcely dropped below the $500 million threshold.
Memecoins and Major Tokens Lead the Charge
In the current landscape, meme-inspired cryptocurrencies have garnered significant attention from the Turkish investing community. Floki and Pepe are among the top five tokens, indicating a trend towards such projects, which are limited in availability on domestic exchanges. Furthermore, AMP from the Fleza Network tops the trading charts with a remarkable volume, followed by the USD/TRY currency pair, appealing to those investing in the dollar.
The third position is held by FLOKI, with its pair against the lira reaching substantial trading figures. PEPE and Bitcoin round out the fourth and fifth spots, respectively, demonstrating a continued affinity for both memecoins and established cryptocurrencies among Turkish investors.