In the Crypto Exchange in Turkey, trading volumes have skyrocketed by around 29% in the last 24 hours after Turkish lira (who is trying) fell to a record low following the arrest of President Receptaclem Imamolu, president of President Receptacle Tayip Erdogan’s rival.
Türkiye’s top exchange Btcturk and Paribo are up 29% and 23% in 24-hour trading volume, respectively.
Binance TR, the turkey branch of Binance, also saw a nearly 24% increase in trading volume, but Bitcoin Lirapair reportedly rose to its highest hourly trading volume in the past year.
Read more: Coinbase leaving turkey after ending USDC yields in the EU
Eklem Imamol was arrested today, but Turkey has also restricted access to various social media platforms. The detention took place a few days before Imamolu was selected as a presidential candidate, and was described as an “attempt of a coup” by the opposition parties.
Shortly afterwards, the price of the try fell almost 13%, reaching a record low of 42 per USD. Turkish citizens have resorted to code for many years as lira continues to lower prices.
