Podcast Discussion: Deep Dive Into This Article.
The Middle East and North Africa (MENA) crypto landscape has seen notable shifts in 2025, with Turkey emerging as the dominant market in the region. While other countries like the UAE focus on practical cryptocurrency adoption, Turkey’s market is largely driven by speculative trading.
Turkey’s Crypto Dominance:
Turkey recorded nearly $200 billion in annual crypto transactions, significantly outpacing the UAE’s $53 billion. The gap reflects almost four times the transaction volume, making Turkey the leading player in MENA.
Speculative vs Practical Use:
According to Chainalysis, the surge in Turkey’s market is primarily speculative, rather than adoption for everyday payments. In contrast, the UAE shows a trend toward using crypto as a practical payment solution.
Shift Toward Altcoins:
Altcoin trading has seen a sharp rise in Turkey, with the 31-day moving average increasing from $50 million in late 2024 to $240 million by mid-2025. Meanwhile, stablecoin trading has declined from over $200 million to around $70 million in the same period.
Economic Pressures and Institutional Activity:
Broader economic challenges appear to be driving yield-seeking behavior, with institutional investors leading the growth. Retail trading, on the other hand, has decreased, indicating limited participation by everyday citizens.
MENA Regional Context:
Despite Turkey’s growth, the MENA region still lags globally. Chainalysis reports 33% year-over-year growth, trailing Asia-Pacific (69%) and Latin America (63%). Other regions like Sub-Saharan Africa, North America, and Europe also posted higher growth rates.
Conclusion
Turkey’s crypto market is setting the pace in MENA, but much of the growth is speculative and altcoin-driven. While institutional players benefit from the market’s expansion, retail participation remains low, reflecting the broader economic pressures in the country. As the region evolves, Turkey’s trend highlights both the potential and challenges of crypto adoption in MENA.
This article reflects the opinions of the publisher based on available information at the time of writing. It is not intended to provide financial advice, and it does not necessarily represent the views of the news site or its affiliates. Readers are encouraged to conduct further research or consult with a financial advisor before making any investment decisions.
