The first quarter of 2023 revealed an interesting picture of the activities of crypto money users in Turkey. A new report prepared on this subject is an important resource for those who want to follow the developments in the sector.
Türkiye 2023 first quarter (January-March) cryptocurrency user report
Data Option’s new report provides an overview of the activities of cryptocurrency users in Turkey in the first quarter of 2023. The report states that there has been a significant increase in the number of cryptocurrency users in Turkey.
The report also examined the most popular cryptocurrencies in Turkey. Bitcoin (BTC) is also the most popular cryptocurrency among investors in Turkey. FET, XRP, ETH, AVAX, GALA and DOGE are among the other most used cryptocurrencies in Turkey.
Turkey’s largest cryptocurrency exchanges
The report also listed Turkey’s largest cryptocurrency exchanges by transaction volume. Accordingly, Btcturk is Turkey’s largest stock exchange with a trading volume of $15 billion.
Paribu, Bitexen, Felixo and Bitci represent Turkey’s largest cryptocurrency exchanges with the following weights.
- BTC: 15 billion dollars (41.6%)
- Paribu: $11 billion (31%)
- Bitexen: $5 billion (14%)
- Felixo: $3.7 billion (10.2%)
- Bitci: $1.1 billion (3%)
- Narkasa: <$0.1 billion (<1%)
- Bitturk: ​​<0.1 billion dollars (<1%)
- My Coin: <$0.1 billion (<1%)
Conclusion
In the first quarter of 2023, a transaction volume of more than $ 36 billion was realized on Turkish cryptocurrency exchanges. Three exchanges account for more than 85% of this volume. Btcturk is the first with 15 billion dollars. Paribu was second with 11 billion dollars and Bitexen was third with 5 billion dollars. 41.6% of the total volume was on Btcturk, 31% on Paribu, 14% on Bitexen, 10.2% on Felixo, 3% on Bitci and less than 1% on Narkasa, Bitturk and Koinim.
Looking at the most traded cryptos, BTC ranked first with $2.59 billion in volume. Then FET was second with $1.88 billion in volume. XRP came in third with $1.51 billion in volume. As a stablecoin, trading volume was $3.19 billion in USDTTRY and $69 million in USDCTRY.
Meanwhile, the altcoin market has seen significant strides towards a revival of Bitcoin in the first months of 2023. cryptocoin.com As you follow, Bitcoin performed the best with a 20% increase. On the other hand, Ethereum is down 7.5%. By contrast, Polkadot gained 62.7%, Binance Coin 104.5%, Avalanche 178.6% and Cardano 191.5%.