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Turkish Lira becomes third-largest fiat currency for crypto trading
The Turkish Lira (TRY) has emerged as the third-largest fiat currency used for cryptocurrency trading, according to a report from Kaiko Research. The Lira now holds 19% of the market share, surpassing the euro (EUR), and reaching an all-time high in early June. This shift reflects broader economic trends and the increasing adoption of cryptocurrencies in regions experiencing economic instability. Turkey has been struggling with significant inflation since 2022, with rates peaking at over 70%, severely diminishing the value of the Lira. As a result, Turkish citizens have increasingly turned to cryptocurrencies as a ... (full story)