Updated data on cryptocurrency transactions made in the Republic of Turkey. dogecoin In the past, it has recorded a trading volume of over $380 million. This means that it is more than the sum of both Bitcoin and Ethereum volumes.
Turkish investors prefer to invest in Dogecoin (DOGE). Adding to the popularity of the meme coin, it has recently become the most traded asset. Transaction volume data for the last 30 days from the top 3 exchanges, meme coinrevealed that over $380.3 million was traded.
Dogecoin Transaction Volume Jumped!
Dogecoin trading volume is more than the combined trading volume of BTC and ETH. BTC and ETH raised $154.4 million and $142.6 million in trading volume, respectively. The data consists of the three leading exchanges BTCTurk, Bitexen and Bitexlive.
Elon Musk’s acquisition of Twitter has created a surge in price and investor sentiment. Turkish cryptocurrency investors also joined this trend and millions of dollars of trading volume were recorded.
As Koinfinans.com previously reported, the authorities did not take a clear stand on crypto. On the other hand, it is possible that the inflation data announced may have directed investors to the crypto money market.
Turkish Investors Show Interest in Cryptocurrencies
As a matter of fact, there are different details that draw attention in the incoming data. For example, the amount of investment in 2022 has increased compared to previous years. According to the company, this is due to high inflation.
A similar trend can be observed in countries such as Argentina and Venezuela. In these countries, too, it saw an influx of investment as the currency depreciated.
President Erdogan explained that blockchain has valuable use cases such as managing supply chains. You can read the details of the news by clicking the link below.
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.