Cryptocurrency activity in Turkey has been quite dynamic recently. Notably, according to data from 21milyon.com, there are clear trends in the altcoins that Turkish investors are most interested in. It is worth mentioning that there are interesting names on the list. Here are the leading altcoins in the portfolios of Turks and the reasons behind these choices.
Tether Takes the Top Spot
The stablecoin Tether is the most popular cryptocurrency among Turkish investors. USDT, with a volume of approximately 1.5 billion TL, tops the list. This could indicate that Turks are gradually shifting their positions to USDT and expect a downturn in the market. Another reason might be the desire to use USDT for trading on global cryptocurrency exchanges, as not every cryptocurrency is available on local exchanges in Turkey.
In second place, we see UMA making headlines with its recent rise. Especially in the last three days, it has gained about 50% in value. UMA has a volume of approximately 1.46 billion TL. The transaction volume for Bitcoin, which is third on the list, is at the level of 1.2 billion TL.
Fan Token on the List
In fourth place on the list is a fan token. AS Roma Fan Token stands out with a transaction volume of 1 billion TL. PEPE has been slightly recovering recently and attracts attention with a transaction volume of 654 million TL, placing it fifth on the list. The 479 million TL volume surrounding BONK in sixth place indicates interest in this project.
FLOKI, Ethereum, Render, and Solana are also among the choices of Turkish investors. Particularly, the transaction volume of 466 million TL in Floki is noteworthy. Ethereum has a transaction volume of 422 million TL. Render is in ninth place with a transaction volume of 363 million TL, while Solana is in tenth place with 316 million TL.
These data show that Turkish investors’ interest in the cryptocurrency market continues and is diversifying. Especially considering that altcoins have quickly responded to Bitcoin’s decline, we can say that Turkish investors are diversifying their portfolios to balance their risks. Lastly, Turks have generated a transaction volume of 15 billion TL in the cryptocurrency market in the last 24 hours.
