Turkish citizens seek refuge in stablecoins amid surging 67% inflation rate

In search of financial stability, Turkish citizens are increasingly turning to cryptocurrencies, especially stablecoins.

According to cryptocompare.com, the Turkish lira ranks as tether’s (USDT) second-most traded pair. Additionally, the lira contributes significantly to FDUSD transactions and is the seventh most common pair with Makerdao’s DAI stablecoin.