Today news
About the same in other media
Turkey Witnesses Resurgence in Crypto Trades Above 1M per day
Reading now: 304
blockchain.newsTurkey is witnessing a resurgence in cryptocurrency trades of above one million per day due to a continuous devaluation of the country's currency, Reuters reported.
Turks have begun to see a safe haven in crypto to avoid the effects of soaring inflation as worries about the country's economic policy have seen the lira slump nearly 40% since September.
According to the data from blockchain analysis firms Chainalysis and Kaiko, the one million-a-day threshold was first seen to have surpassed earlier in 2021 when the sudden replacement of Turkey's central bank chief in March triggered the lira's first major slump of the year.
The lira has lost 90% of its value since 2008, which has made Turks convert the currency into US dollars or gold more
Read more on blockchain.newsAbout this in other media
How to Shield Your Crypto Gains and Avoid Getting Audited for Your Crypto Trades in US cryptonews.com /2 years ago
Armenia lifts Turkish trade ban as officials hint at a thaw in their relations euronews.com /2 years ago
North Korea Views its USD 1.7B Crypto Hack Hauls as a ‘Long-term Investment’ cryptonews.com /2 years ago
Show more
The website finance-news.co is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
