Study: 75 Percent of Binance’s Fiat Currency Transactions are in Turkish Lira Pairs

According to research by cryptocurrency analysis company Kaiko, an overwhelming majority of 75% of the fiat currency pair trading volume on Binance, the world’s largest cryptocurrency exchange, since the beginning of September has been in Turkish Lira pairs.

According to the data, there was a sudden increase in the usage rate of Turkish Lira pairs, especially in September compared to other months.

After the Turkish Lira, the most used fiat currency on Binance was the Euro, with approximately 20%. After the Euro, Brazilian Real and other fiat currencies were listed.

Trading volume of fiat currency pairs on the platform and its change over time.

However, the pressure on the US arm of the company continues. In March, the U.S. Commodity Futures Trading Commission (CFTC) sued the company, accusing it of multiple exchange violations.

In June, the SEC accused Binance and the company’s owner of misusing investor funds, operating as an unregistered exchange, and violating a number of federal securities laws. Binance and CZ have publicly denied all allegations. The case between the two parties continues.

*This is not investment advice.

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