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Bitcoin and the world of cryptocurrency see Turkey within the top 10 in terms of engagement. This indicates the significant interest of Turkish investors in the field, which is also reflected in the market volume. The transaction volumes in cryptocurrencies also give us an idea of which altcoins investments are directed towards. Let’s see which altcoins Turks have shown interest in according to the data from 21milyon.com.
Turkish Investors Flock to These Altcoin Projects
In the world of cryptocurrency, the significance of altcoin investments becomes apparent when Bitcoin rises. Altcoin projects quickly respond to increases in Bitcoin’s value, which can mean rapid ascents for altcoins. While double-digit percentage increases are often seen, triple-digit percentage increases can also occur. The following chart, with data around transaction volumes, gives us a clue about which altcoin projects Turks are directing their investments towards.
At the top of the list, we see the altcoin project named Ethereum Name Service. A volume of 984 million TL has been formed in ENS. This shows that Turks are most interested in this cryptocurrency. Recently, Ethereum founder Vitalik Buterin made a statement about ENS and emphasized its importance in the field, which is reflected in the ENS price. A 30% increase in ENS over the last 24 hours reveals the Turkish investors’ expectations from this altcoin.
Interest in ARB and Solana
In the second and third places on the list are ARB and Solana. A volume of 955 million TL in the altcoin ARB gives us an idea about the Turkish direction. ARB is particularly closely followed by Turks and is a topic of discussion in the Turkish crypto community. On the other hand, Solana, which has been rising in recent months, is the third cryptocurrency closely followed by Turks.
The volume formed around Solana is at the level of 922 million TL. This could be interpreted as a step for the tokens launched on the Solana network. To acquire tokens on the Solana network, one needs to buy the altcoin SOL. Therefore, the high transaction volume could be linked to this development. Another reason could be the significant price increase of SOL.
SKL, AVAX, Ethereum, Ripple, SEI, and Others
In the rest of the list, we see that the altcoin projects preferred by Turks are SKL, AVAX, Ethereum, Ripple, SEI, Luna Classic, and Origin Protocol. Especially the transaction volume of 915 million TL in SKL is noteworthy. On the other hand, there is a transaction volume of 643 million TL in AVAX.
The transaction volume for Ethereum is around 613 million TL, while Ripple is among the altcoins that Turks show the most interest in, with a transaction volume of 436 million TL. The transaction volume in SEI is around 405 million TL, in Luna Classic it is 378 million TL, and finally, Origin Protocol has a transaction volume of around 325 million TL.
