Cryptocurrencies helps mitigate floundering Turkish economy

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Al-Araby

2022 has been a torrid year for cryptocurrencies. The value of the world’s largest crypto, Bitcoin, has roughly halved, as has that of Ethereum. Other major cryptocurrencies, such as the stablecoin Terra, have collapsed altogether. This downturn in digital asset markets comes at a time when the adoption of cryptocurrencies is growing across the Middle East. While the Middle East only represented 6.6% of global crypto activity between June 2020 and June 2021, that period saw a 1500% increase in the region’s activity compared to the previous twelve months. This makes the Middle East one of the f…

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