Turkish investors continue to show unwavering interest in cryptocurrencies even as the market faces a downturn. Exchanges like Binance have recognized this dedication by offering Turkish Lira trading pairs, despite the removal of many other fiat options. Turkish traders remain active, undeterred by the bearish climate.
Local Exchanges Boast Significant Trading Volume
In Turkey, millions are engaged in cryptocurrency trading, with local exchanges reporting substantial volumes. The total trading volume over the last 24 hours on these platforms was recorded at 19.3 billion Turkish Lira. The Istanbul Stock Exchange reported a volume of 93.7 billion TL on a recent Friday, with local crypto exchanges accounting for about 20% of this figure. The website 21milyon.com is utilized to track these trends and provide real-time insights into the activities of Turkish investors.
Top Cryptocurrencies Among Turkish Investors
As Turkish investors gain influence in the cryptocurrency sphere, certain altcoins are seeing increased attention. On 21milyon.com, users can find a list of high-volume cryptocurrencies, along with their prices and performance over different time frames. Interestingly, Turks have shown a preference for riskier assets like FLOKI Coin and PEPE, which have climbed the ranks in popularity.
These volatile altcoins promise high rewards but carry significant risk. Investors who do not exit their positions during bear markets or who sell at a loss during bull markets, only to chase rising prices, can incur substantial losses. This is particularly true for newcomers who invest in these high-risk assets and may face swift and severe downturns.