Turkey Leads MENA With $200B in Crypto Volume Driven by Speculation
The trading activity significantly outpaces all other MENA markets, though analysts question the sustainability of this growth pattern.
Chainalysis research published Thursday reveals Turkey recorded nearly $200 billion in annual cryptocurrency transactions, establishing dominance across the Middle East and North Africa region. The trading activity significantly outpaces all other MENA markets, though analysts question the sustainability of this growth pattern.
The United Arab Emirates holds second position with $53 billion in crypto volumes, representing roughly one-fourth of Turkey’s transaction levels. Turkey’s outsized activity alone exceeds the combined volumes of Egypt, Jordan, Saudi Arabia, Morocco, and Israel.
However, on-chain…
