Stablecoin purchases in Turkey amount to 4.3% of GDP, the highest among global economies, according to Chainalysis.
The United States may lead the world in stablecoin transaction volumes, but its share of stablecoin purchases relative to its gross domestic product (GDP) has been eclipsed by Turkey.
According to “The 2024 Crypto Spring Report,” released on April 25 by the blockchain intelligence firm Chainalysis, Turkey has the highest share of stablecoin purchases relative to its GDP.
Based on Chainalysis’ data, stablecoin buying in Turkey accounted for 4.3% of its GDP between April 2023 and March 2024, making it the world’s biggest spender of stablecoins relative to its GDP.