Crypto: 75% of Binance's Fiat Trading Volume Dominated by Turkey's Lira
A recent post by Kaiko on X [formerly Twitter] pointed out that the Turkey’s currency, the Lira , has now become the largest fiat trading pair on Binance. It constituted 3/4th of the total volume on the exchange in early September. By doing so, it overshadowed the volume of other fiat trading pairs against the euro [EUR], Brazilian real [BRL], and several other currencies. When compared to January 2021, the dynamics have completely flipped. The Turkish Lira is the only fiat trading pair that has registered a swift increase in share. EUR and BLR’s share has dwindled over the years. 📈The Turkish Lira has emerged as the largest fiat trading pair on Binance, accounting for 75% share of all fiat volume in early Sept. pic.twitter.com/KHkyURMYxm — Kaiko (@KaikoData) September 14, 2023 On other local exchanges in Turkey, the volume trend has seen significant fluctuations over the past week. On Paribu and Icrypex, the uptrend had subsided, while on ...