Falling Turkish lira boosts daily cryptocurrency transactions in Turkey
The fiat currency has depreciated by almost 40%, which became the catalyst for an increase in their numbers
23.12.2021 - 13:45
849
1 min
0
What’s new? Cryptocurrencies continue to grow in popularity in Turkey, with the number of daily digital transactions has exceeded one million. This growth is explained by the depreciation of the lira, which has fallen to a new low of 11,6 against the US dollar. This is reported by Reuters, citing data from Chainalysis and Kaiko.
What does the Reuters report say? According to the data, the return to the indicator over a million transactions a day came at a time when Turkey's fiat currency, the lira, has depreciated by almost 40% since September. The cryptocurrency transactions in Turkey had previously surpassed the 1 million a day mark following President Recep Tayyip Erdoğan's unexpected dismissal as the central bank governor on March 22.
The report also mentions that bitcoin and stablecoin USDT are the most widely traded assets. This is evidenced by data showing that the TRY/USDT pair is one of the most traded, while the fiat currency pair with BTC ranks 12th.
What had happened before? The reports that Turks are increasingly switching to cryptocurrencies came months after the central bank banned the use of crypto assets when paying for goods and services. In addition, President Erdogan has said the country is at war with cryptocurrencies.
Useful material?
Telegram 
Twitter Incidents
The company is linking the incident to a compromised private key on a service wallet, rather than a smart contract exploit
May 22, 2026
Incidents
Following the incident, the project temporarily halted trading operations and node activity.
May 15, 2026
Incidents
The user spent weeks unsuccessfully trying to guess the password until Claude helped find an old wallet backup file
May 14, 2026
Crypto regulations
Authorities are introducing mandatory registration for companies handling cross-border crypto transactions
May 8, 2026
Incidents
According to Blockaid, the attack may have been carried out by the same hacker behind the 1inch Fusion V1 exploit.
May 7, 2026
Incidents
The attacker gained administrative access and altered contracts to drain user funds
Apr 30, 2026
Cryptocurrency rates
-
Bitcoin
$65 286
BTC
-3.47%
-
Ethereum
$2 551.16
ETH
+3.56%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Ripple
$1.21
XRP
-1.5%
-
Dogecoin
$0.092257
DOGE
-2.41%
-
TRON
$0.160134
TRX
-1.59%
-
Zcash
$619.57
ZEC
+0.4%
-
Cardano
$0.203246
ADA
-6.35%
-
Stellar XLM
$0.212859
XLM
-4.26%
-
Polkadot
$3.32
DOT
+5.27%