Binance News: Arrest of Erdogan Rival Causes Turkish Lira to Plunge, Boosting BTC/TRY Trading Volumes

Erdogan Rival’s Arrest Sends Lira to Record Low, Boosting BTC/TRY Trading on Binance

The Turkish lira (TRY) fell to a record low against the dollar following the surprise arrest of Istanbul mayor Ekrem Imamoglu, a rival of President Recep Tayyip Erdogan. The currency slumped nearly 41 per U.S. dollar, marking a 10% slide on the day. This volatility led to a sharp rise in trading volumes in the bitcoin-lira (BTC/TRY) pair on Binance, with the highest hourly volume in at least a year recorded between 7:00 UTC and 8:00 UTC. Imamoglu’s Republican People’s Party (CHP) described the arrest as a coup to replace the will of the people.

Mubarak Meme Coin Explodes As CZ Buys In

Former Binance Chief Executive Changpeng “CZ” Zhao invested 1 BNB (valued at $632) in the new Mubarak crypto, triggering a 45% price surge in just 24 hours and leading to a $178 million market valuation. The purchase through PancakeSwap gained significant attention, with a social media post documenting the transaction gaining over 200,000 views within hours. Market participants are now searching for the next potential breakout opportunity across Ethereum and BNB networks.