Turkey ranks second globally in crypto trading volume

Crypto-focused news and data platform Coinwire has published a report on global crypto trading transactions in the first half of 2024, using data from the 6 most reliable exchanges. According to the report, global crypto trading volume managed to remain 90 percent above its 2022 level in the first half of the year, reaching 108 trillion dollars. The report indicates that Turkey is the second country with the highest trading volume, while the United States topped the list with a volume of 2 trillion dollars.

Commenting on the report, Gate.TR CEO Kafkas Sönmez said, "Although there has been a slowdown in crypto trading volumes on centralized exchanges in recent months, the first half of 2024 has provided evidence of the widespread adoption of crypto. Turkey, as the second country in the world with the highest volume of crypto transactions during this period, has once again demonstrated its interest in new technologies on a global scale."

CRYPTO TRADING VOLUME EXCEEDS 1 TRILLION DOLLARS

The report highlighted that Europe leads in crypto trading, accounting for 37.32 percent of global transaction value. Asia's share was reported at 36.17 percent. Turkey contributed to the leadership of Asia and Europe in crypto by ranking second after the US in terms of global crypto trading volume. According to the report, it is estimated that the crypto trading volume in Turkey exceeded 1 trillion dollars in the first half of 2024. Meanwhile, another report showed that Istanbul has been included in the list of "Crypto-ready cities" on a global scale.

Pointing out that the estimates in the report show that crypto investors in Turkey allocate 1 thousand 352 dollars each month for digital asset investments, Kafkas Sönmez stated, "Our country serves as a market where intense interest in new technologies, financial products, and services is embodied in terms of the crypto sector. Every citizen in Turkey has turned into a risk expert and portfolio manager to evaluate their savings in the most accurate way. As Gate.TR, one of the established players in the Turkish crypto market, we are taking responsibility to ensure that this awareness is not limited to large cities like Istanbul and spreads to wider segments of society."

News Source: 12punto