Turkey’s Bitcoin P2P transactions increase by 40% as inflation rises to 78%
The inflation rate of Turkey hit a 24-year high, currently at 78.62%. With a monthly increase of 4.95%. While the lira is weakening, the volume of BTC on LocalBitcoins has increased significantly.
In the first quarter of 2022, LocalBitcoins trading volume increased by 51% compared to Q4 2021, trading volume in Q2 2022 increased by 40%. These significant increases show that people are moving to cryptocurrency to protect their finances.