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The Turkish Lira (TRY) became the most dominant fiat trading pair on Binance in the month of September, according to the crypto exchange’s research.Turkish Lira accounted for 75% of all fiat volume in early September despite being the fourth-largest crypto market globally in terms of transaction volume after the United
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75% of all fiat volume in Binance, the largest cryptocurrency exchange by client count, is dominated by the Turkish Lira (TRY). At
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Still, even though TRYB looks to have gathered traction in Turkey, USDT remains dominant. In the past 24 hours, the USDT/TRY pair listed on the largest Turkey-based crypto exchange, BtcTurk, has seen a trading volume of $12.3 million, accounting for 18% of the total activity on the exchange. Meanwhile, the
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The suppression of the lira stems from Erdogan’s core idea that economic growth can be hampered by raising interest rates. Turkish President Recep Tayyip Erdogan has retained his seat after winning the past presidential election in the country and while this naturally calls for celebration, the outlook of the Lira
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According to statistics, the stablecoin BUSD saw a significant drop in its supply over the past 30 days, shedding roughly 23.8% from Dec. 5, 2022, to Jan. 6, 2023. Since Dec. 13, 2022, BUSD’s supply has been reduced by more than $5 billion, going from $21.84 billion to its current
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