While Bitcoin Melts, Turks Chased These Altcoins!

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Last week, Bitcoin (BTC) continued its declines that started in the previous period. The largest cryptocurrency by market value was negatively affected by the speech of the US Federal Reserve Chairman Jerome Powell about 10 days ago. On top of that, it dropped below $20,000, which has been psychological support for some time. Not only did it not recover much in the past week, it also dropped below $19,800 yesterday evening. Meanwhile, the focus of investors in Turkey was on other cryptocurrencies. Here are the details…

Bitcoin and other cryptocurrencies fell: Turks sought these coins

CoinGecko, the platform that provides data for cryptocurrencies cryptocoin.com Investors in Turkey researched various projects. Between August 27 and September 2, Turkish investors were most curious about the following on CoinGecko:

  • Algorand (ALGO): Algorand is a self-sustaining network that supports a wide variety of applications. It is also decentralized and Blockchain-based. These systems are secure, scalable and efficient. They are all critical features for effective applications in the real world.
  • Bone ShibaSwap (BONE): Recently referred to as the “SHIB coin”, BONE is an important coin in the Shiba ecosystem. BONE is a governance token of the Shibaswap ecosystem. In other words, it allows investors to have a say in the SHIB ecosystem.
  • Naples Fan Token (NAP): It is a fan token created by SSC Napoli in collaboration with Socios.
  • Dogechain (DC): Dogechain appears as an unofficial layer-2 solution for the Dogecoin project. It operates on the Polygon network and allows Dogecoin users to access the growing DeFi ecosystem. It aims to bridge over Dogecoin.
  • Bitcoin (BTC): It is the world’s first and largest cryptocurrency.
  • STEPN Green Satoshi Token (GST): Green Satoshi Token is the gaming token of the web 3.0 move-to-win application.
  • Ethereum (ETH): It is the second largest cryptocurrency and the largest altcoin. Recently, it has been generating excitement among the community with its transition from proof-of-work (PoW) consensus algorithm to proof-of-stake (PoS). This transition is called “merge” and it plans to reduce energy consumption caused by mining by 99 percent.
  • Project Galaxy (GAL): Project Galaxy is the world’s largest Web3 credential data network. It was launched on Binance Launchpool on April 28, 2022.
The Company Lose Big With These 2 Cryptocurrencies
  • TerraClassicUSD (USTC): Its algorithmic stablecoin UST is another stablecoin created in the Terra ecosystem after losing its 1:1 peg to the US dollar.
  • Clover Finance (CLV): Clover Finance (CLV), or Clover for short, is a Blockchain operating system. It provides a one-stop, easy-to-use Blockchain infrastructure and Ethereum Virtual Machine (EVM) compatible framework for substrate-based applications.

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