According to a study, Türkiye has become the world’s number one stablecoin investor according to its GDP ratio. 4.3 percent of GDP was used in stablecoin trading.
Türkiye is ahead of many countries in terms of cryptocurrency investment. As you can guess, the biggest reason for this is inflation. Many people who do not want their money to melt away buy cryptocurrencies like gold or foreign currency. Latest news about Türkiye Another striking fact revealed.
A new report published by blockchain analysis firm Chainalysis shows that Turkey’s to stable coins showed unprecedented interest. When we say stable coin, we mean Tether (which is printed in exchange for dollars and whose price is always around 1 dollar).USDT) and USD Coin (USDC).
Türkiye ranked first in the world in GDP ratio!
According to research conducted by Chainalysis, stable coin purchases in Turkey will increase GDP between April 2023 and March 2024. 4.3 percent created. Yes, you heard right. We traded stable coins worth 4.3 percent of our gross domestic product during a certain period. Saying that similar things have happened in the past, Chainalysis research director Kim Grauer said that Turkey will come to Turkey in 2022. 907 billion dollars He said that it has a GDP of 38 billion dollars, of which stable coins are bought and sold.
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According to Chainalysis analysts, the main reason why Turkey buys and sells stable coins at such a large rate is inflation. However, since we know our country better, it is also useful to say this. What banks apply to foreign exchange transactions scissors too open. In addition, stable coins allow transactions 24 hours a day, 7 days a week. In this case, citizens turn to crypto assets such as USDT or USDC instead of buying foreign currency from the bank.
Source :
https://cointelegraph.com/news/stablecoin-buys-turkey-4-percent-gdp?_gl=1%2a16zlnj5%2a_ga%2aMTQ5MzAyNzU3LjE3MTA0OTU0NDQ.%2a_ga_53R24TEEB1%2aMTcxNDEzNTMxNy4xMS4xLjE3MTQxM zY3NzYuMC4wLjA.