Despite gaining traction in Turkey, TRYB still lags behind USDT in terms of dominance. The largest Turkey-based crypto exchange, BtcTurk, has witnessed a trading volume of $12.3 million for the USDT/TRY pair in the past 24 hours, constituting 18% of the overall activity on the exchange. In contrast, the total trading volume for TRYB trading pairs on MECX, Pangolin, and Icrypex is a mere $61,700.
While TRYB has managed to gather some attention in Turkey, it is clear that USDT remains the favored choice for cryptocurrency traders. The substantial trading volume for the USDT/TRY pair on BtcTurk highlights the trust and popularity of USDT in the Turkish market. With a trading volume of $12.3 million, it is evident that USDT significantly outshines TRYB in terms of trading activity.
On the other hand, TRYB has struggled to gain traction on platforms such as MECX, Pangolin, and Icrypex. The total trading volume for TRYB pairs on these exchanges stands at a paltry $61,700, indicating a lack of interest and demand for TRYB compared to USDT. It is crucial to note that these figures further reinforce the dominance of USDT and emphasize its prominent position in the Turkish crypto market.
Despite its lower adoption rate, TRYB may still have potential for growth in the future. With more exposure and awareness, it could attract a larger user base and eventually compete with USDT in terms of trading volume. However, for now, USDT remains the clear leader in the Turkish crypto ecosystem, commanding a significant portion of the trading activity on BtcTurk.
In conclusion, while TRYB has managed to gather some traction in Turkey, it still pales in comparison to the dominance of USDT. The vast difference in trading volumes between the USDT/TRY pair and TRYB pairs on various exchanges clearly showcases the preference for USDT among cryptocurrency traders. Nonetheless, the future holds potential for TRYB to gain more prominence and challenge USDT’s position, but for the time being, USDT continues to rule the Turkish crypto market.
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