Turkey Leads MENA Crypto Market With $200 Billion in Transactions
Turkey’s market is roughly four times the United Arab Emirates at about $53 billion, as Istanbul Blockchain Week looms and Ripple expands in the region.
> In a year defined by inflation and currency weakness, Turkish traders turned to digital assets, pushing the country’s crypto transaction volume to about $200 billion over the past year. That makes Turkey the largest crypto market in the Middle East and North Africa.
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> The scale of the market places Turkey far ahead of regional peers such as the United Arab Emirates, which recorded around $53 billion in transaction volume. The surge has been driven largely by speculative trading amid economic strain, as participants sought opportunities in fast-moving digital asset markets.
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> Attention on the country’s crypto scene is set to intensify with the upcoming Istanbul Blockchain Week, an event expected to draw investors, institutions, and developers. Ripple, a blockchain company, is also expanding in the region, underscoring Turkey’s growing role in the broader crypto ecosystem.
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