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BTCC / BTCC Square / Global Cryptocurrency /
Turkey Dominates MENA Crypto Market with $200B Volume Amid Speculative Trading Concerns

Turkey Dominates MENA Crypto Market with $200B Volume Amid Speculative Trading Concerns

Author:
Global Cryptocurrency
Published:
2025-10-23 21:47:01
13
3
BTCCSquare news:

Turkey has solidified its position as the Middle East and North Africa's largest cryptocurrency market, recording nearly $200 billion in annual transactions—four times the volume of second-ranked UAE. Chainalysis data reveals this dominance comes despite warnings that speculative trading, rather than organic adoption, fuels much of the activity.

The MENA region saw over $60 billion in crypto volumes in December 2024, with Turkey accounting for $878 billion in cumulative inflows since 2021. This growth persists alongside Turkey's currency devaluation and double-digit inflation, suggesting crypto's role as both hedge and gamble in volatile economies.

While institutional participation grows, analysts note retail speculation drives most transactions. The trend mirrors broader MENA adoption patterns, where crypto thrives despite political and economic instability—though at 33% growth, the region lags Asia-Pacific and Latin America's explosive expansion.

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