Turkey has emerged as the global leader in stablecoin purchases as a percentage of GDP, reaching an impressive 4.3%, surpassing all other economies in this metric.
Despite the United States leading in overall stablecoin transaction volumes, it falls behind Turkey when comparing stablecoin purchases to the country's gross domestic product.
This finding was highlighted in the "The 2024 Crypto Spring Report" by Chainalysis, published on April 25.
The report, which uses data from April 2023 to March 2024, underscores Turkey's prominent position in the stablecoin market, showcasing the country's significant adoption and usage of stablecoins relative to its economic size.