NEWSROOM

A new report shedding light on global cryptocurrency adoption showed that in the first half of 2024, global crypto trading volume managed to stay 90% above its level in 2022 at $108 trillion. Turkey ranked second in the ranking of the countries with the highest volume of crypto transactions in the world.

Crypto-focused news and data platform Coinwire has released a report shedding light on global crypto trading in the first half of 2024, using data from the 6 most trusted exchanges. The report revealed that global crypto trading volume managed to stay 90% above its 2022 level at $108 trillion in the first half of the year. While the US topped the list with a volume of 2 trillion dollars as the country with the highest transaction volume, the report also confirmed that Turkey is in the global league in terms of crypto adaptation.

Commenting on the report, Gate.TR CEO Kafkas Sönmez said, "Although crypto transaction volumes in centralized exchanges have slowed down in recent months, the first half of 2024 has created evidence for the wide adaptation of crypto. Turkey, as the world's second country with the most crypto transactions in the said period, once again demonstrated its interest in new technologies on a global scale."

Turkey's transaction volume exceeded 1 trillion dollars

The report emphasized that Europe is the leader in crypto trading, accounting for 37.32% of the global transaction value. Asia's share was announced as 36.17%. Turkey ranked second after the US in terms of global crypto trading volume, contributing to Asia and Europe's leadership in crypto. According to the report, the crypto transaction volume in Turkey was estimated to exceed $1 trillion in the first half of 2024. In another report, Istanbul was included in the list of "crypto-ready cities" globally.

Noting that the estimates in the report show that crypto investors in Turkey allocate 1,352 dollars every month for digital asset investments, Kafkas Sönmez said, "Our country is a market where the intense interest in new technologies, financial products and services is embodied in terms of the crypto sector. Every citizen in Turkey has turned into a risk expert and portfolio manager in order to make the most accurate use of their savings. As Gate.TR, one of the established players of the crypto market in Turkey, we are taking our hand under the stone to ensure that this awareness is not limited to big cities like Istanbul and spread to wider segments."

Bringing crypto awareness to different cities with the Cryptocurrency Tour

Kafkas Sönmez stated that they have given importance to local contacts as well as digital visibility since the day they started active operations in Turkey and said, "The most recent example of the priority we give to meeting with opinion leaders, press, investors and students in the field is the Cryptocurrency Tour 2024, which we launched in July. The first meeting we held in Mardin will be followed by the new one we will organize in Izmir. Izmir, with its dynamic environment, local crypto communities, young population and student-intensive demographics, is one of the cities that may be most interested in blockchain, Web3 and digital assets. Under the guidance of Medipol University Lecturer Nurullah Dündar, we will embark on an academic and topical crypto journey with citizens interested in crypto in a city from every region of Turkey. By introducing Gate.TR products and services, we aim to eliminate the question marks about blockchain across the country. In addition, together with Dynamo Community, which was established to guide those who want to work in the field of blockchain and Web3, we recently held our first community meeting not only with investors but also with students who want to build a career in areas such as Web3 development or Web3-oriented marketing."

IBW will host a special event in 2024

Reminding that Istanbul will host one of the region's largest blockchain and Web3-focused events on August 13-14, Gate.TR CEO Kafkas Sönmez concluded his evaluations with the following statements:

"As Gate.TR, which is one of the sponsors of Istanbul Blockchain Week 2024, which plays an important role in introducing Turkey's crypto potential to the global league with the events it organizes every year, we are excited about the summit, which is prepared with an even wider scope this year. At IBW 2024, Gate.TR will host a special event co-hosted by global crypto and blockchain giants with the participation of officials from companies such as Glassnode, Consensys, Crystal. With our young and dynamic team who fundamentally believe in the potential of crypto in Turkey, we will share with the international participants the steps we have taken to take our country's global achievements even further during IBW 2024. With the clarification of the legal framework, we are very hopeful for the future of crypto in Turkey."