Turkish Lira constituted 75% of the fiat money volume of Binance, the world’s largest cryptocurrency exchange, in September.
Transferred via the Twitter account of on-chain analysis firm Kaiko on September 14 to data according to Turkish Lira (TRY), Total fiat transaction volume on Binance in September 75% created. According to the table presented April of 2022 since month most dominant fiat currency Turkish Lira, which managed to become dominance in the last 3 months strengthened it further.
According to the data included, it was also the second most preferred fiat currency after the Turkish Lira in September. Euro (EUR) while in third place Brazilian Real (BRL) took place. Also in the list with small volumes Argentine Peso (ARS), Nigerian Naira (NGN), South African rand (ZAR), Russian Ruble (RUB), Ukrainian Hryvnia (UAH), British Pound (GBP) and Australian Dollar (AUD) is available.
In the data presented Tether (USDT) and the absence of stablecoins kept the Turkish Lira at the top. Global leadership in terms of overall volume USDTIt is in the hands of .
Especially Turkish users After TL transfers from the bank USDT purchases are thought to increase volume significantly. On the other hand, while Turkish users have such investments in Binance, it is estimated that if something happens to the stock market, Turkish investors may be the ones who suffer the most.
According to data provided by internet data provider Similarweb at the beginning of August, Binance’s top five traffic sources in the three months are in order: Türkiye, Vietnamese, Russia, Argentina And India had happened. As can be seen from this data, Binance is among the largest investor groups. Turkish users It is located.
Aware of this situation, Binance showed its commitment to investors by providing Turkish Lira support for many cryptocurrencies during the process. Also Binance’s upcoming first “Binance Blockchain Week” effectiveness as well In Istanbul on November 8 It will happen.
On the other hand, in a report published by the leading cryptocurrency exchange KuCoin, especially in the last Turkish in 18 months It revealed the increasing interest of users in the cryptocurrency industry.