Turkey ranks within the top ten countries in terms of interest and participation in the Bitcoin and cryptocurrency markets. This reflects the Turkish investors’ significant engagement in the space, which is also evident in the trading volumes of various cryptocurrencies. Data from 21milyon.com provides insights into which altcoins have captured the attention of Turkish investors.
The relationship between Bitcoin’s price movements and altcoin investments is particularly noticeable; altcoins often respond swiftly to Bitcoin’s rises, sometimes with double or even triple-digit percentage increases. A chart detailing trading volumes offers clues about the altcoin projects favored by Turkish traders.
At the top of the list is the Ethereum Name Service (ENS) project, with a trading volume of 984 million Turkish Lira, indicating its popularity among Turkish investors. Recent comments by Ethereum founder Vitalik Buterin on the project’s significance have positively impacted ENS’s price, which has seen a 30% increase in the last 24 hours.
Following ENS, ARB and Solana are the second and third most popular investments, with trading volumes of 955 million TL and 922 million TL, respectively. ARB’s significant volume suggests a strong following among Turkish investors, while Solana’s recent surge in price has kept it in the spotlight.
Other altcoins that have seen substantial trading volumes include SKL, AVAX, Ethereum, Ripple, SEI, Luna Classic, and Origin Protocol. SKL stands out with a trading volume of 915 million TL, while AVAX has seen 643 million TL in trades.
Ethereum’s trading volume is around 613 million TL, and Ripple remains a popular choice with a volume of 436 million TL. SEI, Luna Classic, and Origin Protocol also show significant activity with volumes of 405 million TL, 378 million TL, and 325 million TL, respectively.