🚀📈 Bitcoin enthusiasts, we've got some exciting news! The Turkish lira (TRY) has hit an all-time high in crypto volume market share, rallying past the euro to become the third largest fiat currency by volume! 🎉

According to Kaiko, a crypto research platform, the surge to a whopping 19% market share in early June was driven by high inflation in Turkey, which has surpassed 70%. This makes the TRY one of the worst-performing fiat currencies worldwide. 😲

But here's the kicker: the devaluation of TRY has caused Bitcoin (BTC) to hit new all-time highs against the currency in the past few months. In October 2023, BTC was worth $34,000, but against the lira, it rallied to 979,000 TRY. By February, BTC surged to 1.6 million TRY as the asset rallied above $50,000 on high demand from U.S. investment products. 🚀💰

Fast forward to March, BTC hit another all-time high against the lira, surging above 2.3 million TRY. At the time of writing, BTC had declined slightly to 2.24 million TRY.

Kaiko also revealed that Binance’s recent loss of banking partners, leading to the delisting of GBP and the Australian dollar trading pairs, has boosted the share of TRY in overall fiat trade volumes.

So, keep your eyes on the prize, BTC lovers! The future is looking bright! 🌞🚀