Altcoins Explode in Turkey as New Money Floods the $200B MENA Market

According to analytics firm Chainalysis , Turkey now leads the Middle East and North Africa crypto market with an estimated $200 billion in annual transaction ￰0￱ the massive inflow, analysts say the rise is being fueled not by mainstream adoption, but by a wave of speculative trading. Turkey’s prolonged inflation is pushing both institutions and investors toward cryptoassets as a hedge. Yet, real-world payments and utility remain limited, especially compared to markets that are integrating digital assets into business ￰1￱ Outpace Stablecoins as Investors Chase Returns While the UAE is gradually expanding crypto use in payments and commerce, Turkey’s market is dominated by rapid, short-term speculative ￰2￱ reports that altcoin trading has become the country’s primary growth ￰3￱ 31-day moving average for altcoins jumped from about $50 million at the end of 2024 to $240 million by ￰4￱ the same time, stablecoin activity — once the core of Turkey’s market fell sharply from $200 million to $70 ￰5￱ link this shift to rising risk appetite as traders hunt for higher returns amid economic ￰6￱ Money Takes the Lead The report notes that Turkey’s crypto landscape is increasingly ￰7￱ players are expanding their exposure, while retail investors are losing ￰8￱ suggests that firms and funds are hedging currency risks, while everyday traders have fewer opportunities to ￰9￱ Turkey’s strong performance, the broader MENA region still lags behind other global ￰10￱ market growth in MENA reached 33%, compared to 69% in Asia-Pacific and 63% in Latin ￰11￱ remained the world’s most active crypto market, followed by the United States.