The exchange rate of Türkiye lira against the US dollar plummeted, and BTC/TRY transaction volume on Binance rose sharply

BlockBeats news, on March 19, today, after the sudden arrest of Ekrem Imamoglu, the mayor of Istanbul and a competitor of President Recep Tayyip Erdogan of Türkiye, the exchange rate of Türkiye lira (TRY) against the US dollar fell to an all-time low. The lira fell to a record high of nearly 41 against the US dollar, a 10% drop on the day. Volatility has led to a sharp increase in trading volume of Bitcoin Lira (BTC/TRY) pairs on Binance. Data shows that BTC/TRY trading pairs on Binance traded a total of 93 BTC between 3:00 pm and 4:00 pm Beijing time, the highest hourly trading volume in at least a year. However, after adjusting for the exchange rate of the lira, the trading price of BTC is still much lower than the price on Coinbase (COIN).