Turkish Investors Favor Certain Altcoins for Trading

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Bitcoin and altcoins experienced significant rises in February, leaving many curious about their performance in March. The Turkish cryptocurrency investor base is approximately 10 million strong. I have compiled the most purchased altcoin projects by these investors according to data from 21milyon.com. Let’s take a closer look at the details.

Which Altcoins Do Turks Buy the Most?

Firstly, I would like to share with you the 24-hour trading volume data from 21milyon.com. In the last 24 hours, Turkish traders have created a trading volume of 907 million 645 thousand 326 dollars on local cryptocurrency exchanges.

The TL equivalent of the trading volume is 28 billion 461 million 34 thousand 518. This figure is noteworthy as it indicates the high daily trading volume of cryptocurrency investors in our country. It is also interesting as it shows the approach towards cryptocurrencies as a means of income and value preservation.

Which Cryptocurrencies Stand Out?

According to data from 21milyon.com, the most purchased altcoin project by Turks is SPELL, with a volume of 2 billion 240 million in the last 24 hours. Tether (USDT) is in second place with approximately 2 billion 108 million TL in purchases.

The purchase of USDT by Turks can be interpreted as a transfer to global cryptocurrency exchanges. It could also be a protective measure against the potential devaluation of the TL against the dollar.

Bitcoin ranks third. The cryptocurrency had an incredible February, with its price reaching the 64,000-dollar level, which has increased investor appetite. The trading volume for Bitcoin is at 1 billion 886 million.

Meme Coins and AI Coins Attract Attention

Among the altcoins purchased by Turks, meme coins and artificial intelligence coins stand out. According to 21milyon.com data, meme coins Shiba Inu, PEPE, BONK, and Dogecoin are in the top ten.

The trading volume for Shiba Inu is at 1 billion 77 million, while for PEPE it is at 1 billion 201 million TL. Other meme coins such as Dogecoin have a trading volume of 952 million TL, and BONK is at 927 million TL.

According to 21milyon.com data, Turkish interest in artificial intelligence coins is very high. FETCH.AI stands out in the list. Turks have not given up their love for Luna Classic. The trading volume for Luna Classic is at 904 million TL. Lastly, the king of altcoins, Ethereum, is in the 11th position with a trading volume of 830 million TL.