Turkish investors occupy an important place in the cryptocurrency markets, and we understand this from the TRY pairs in global exchanges. Even the most optimistic estimates say that the number of Turkish cryptocurrency investors is over 5 million. Everyone is certain that the number is above this figure. So, which altcoins do Turkish crypto investors buy and sell the most?
Altcoins Purchased by Turks
There are two ways to obtain this data. The first is to visit all local cryptocurrency exchanges in Turkey one by one and collect the volumes of all altcoins in an Excel file. This would probably take more than 10 hours of your time. However, 21milyon.com offers you the current price, volume data, and performance in TL for 380 different altcoins traded on local exchanges in just a few seconds.
All you have to do is go to the website and ask to sort the cryptocurrencies section by volume. Then what you’re looking for will appear in front of you. To save my 10 hours just for this, I went to 21milyon.com and did this, and I came across the table below.
The ranking is not that surprising. Tether is in the first place because TRY is a highly volatile currency and investors can easily buy and sell dollars with USDT. In second place is Bitcoin, which offers less profit but is considered safer compared to the overall market. However, when we look at the others, we see that altcoins like SOL, TIA, AVAX are in the top ranks.
Turks in the Altcoin Rally
There are millions of cryptocurrency investors in Turkey, and their appetite for risk is quite high. Therefore, there has been a high demand for altcoins like SOL, AVAX for a long time. As we mentioned earlier, there was a massive interest in FET Coin from the beginning of the year until the start of the second quarter. This interest did not have a huge counterpart in global exchanges, but Turkish investors have shown great interest in FET Coin since the end of November. In return, they have gained up to 10 times or even more.
So, Turkish investors present a different picture from the volume rankings in global exchanges, which can be turned into an advantage. As in the case of FET Coin, we may see more growth in altcoins that attract intense interest from Turkish investors.
Moreover, you will see that all the latest developments are instantly updated 24/7 in the news section of 21milyon.com.
