The persistent decline in Bitcoin prices since last month has heightened investor anxiety. Despite the Federal Reserve’s ongoing statements about reducing interest rates, widespread economic uncertainties continue to negatively impact the market. In August, Bitcoin’s price plummeted to $48,800 but later rebounded to $65,000. However, the downward trend persisted. This article examines which cryptocurrencies Turkish investors traded the most in the last 24 hours within the TRY pair on Turkish exchanges.
Which Cryptocurrencies Are Turks Trading?
Investors’ interest in various projects fluctuates over time. Previously popular meme coins and AI tokens appear to have lost momentum recently. Nevertheless, USDT and BTC maintain their dominant positions on the trading list. Access NEWSLINKER to get the latest technology news.
How Is the Market Being Analyzed?
There are two primary methods for analyzing price movements and the overall market situation. Some investors prefer to continuously monitor order books through multiple screens, though this may not be the most efficient method. Alternatively, services like 21milyon.com consolidate all necessary information, enabling faster data retrieval.
Key Findings
Based on the latest data from 21milyon.com, the 24-hour trading volume reached approximately $288.6 million (about 9.861 billion TRY), indicating ongoing anxiety and a downward trend in trading volumes. Key observations from the data include:
- Bitcoin remains the most traded cryptocurrency with a value of 1.866.150 TRY.
- Tether’s price continues to rise, currently at 34.22 TRY.
- Meme coins like APE, PEPE, FLOKI, and DOGE are among the top 10 by volume.
- Ethereum and Solana are also popular among Turkish investors.
- AVAX and the low-volume REEF are noteworthy mentions.
In conclusion, while the market shows signs of anxiety and a declining trend, key cryptocurrencies like Bitcoin and Tether continue to dominate trading activities. This trend reflects broader market sentiments and investor behavior in the Turkish crypto market.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Source: https://en.bitcoinhaber.net/investors-boost-bitcoin-and-tether-trading