As 2023 unfolded, the crypto ecosystem faced a challenging bear market that tested the resilience of projects and investors alike. However, towards the end of the year, the much-anticipated bullish trends began to emerge, signaling a potential turnaround.
In this blog, we will share with you our journey through 2023, including insights from key reports in the Turkish crypto market, and our expectations and objectives for the Turkish crypto market in 2024. Let’s begin the journey!
Our 2023 Milestones: Empowering Crypto in Turkey
Throughout the challenging landscape of 2023, we at Eunomia have successfully collaborated with over 10 crypto projects, many of which were new entrants to the Turkish market. Despite the tough market conditions, we have been instrumental in building and engaging Turkish communities for these projects, attracting investors from Turkey.
For projects that already had a presence in Turkey, we have significantly enhanced their local communities, achieving an average growth of 35%.
In addition, our services extended beyond community building. We provided dozens of projects with UX/UI design support, logo and branding solutions, marketing plan development, and report creation. We also organized crypto events, all of which contributed to strengthening the global footprint of these projects while simultaneously fostering their communities in Turkey.
Highlighting Our Insights: Key Articles from 2023
In our continuous effort to deepen our understanding and engagement with the Turkish crypto community, we've published several insightful articles throughout the year. Here are some of the highlights:
Each of these blogs not only reflects our expertise and deep involvement in the crypto world but also serves as a valuable resource for anyone interested in the evolving landscape of cryptocurrency in Turkey.
Crypto Growth Rates and Trends in Turkish Crypto Market
The crypto field faced significant challenges in 2023, but its popularity in Turkey continued to grow remarkably. Here are some key statistics and trends that emerged over the year based on Paribu’s 2023 report:
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Awareness and Adoption: The percentage of people in Turkey who have heard about crypto soared from 77% to an impressive 99%.
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Top Preferred Cryptocurrencies: The most favored coins of the year were Bitcoin, Ethereum, Dogecoin, Shiba Inu, and Cardano (ADA), in that order.
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Increase in Crypto Transactions: The proportion of individuals engaging in crypto transactions rose significantly from 13% to 25%.
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Investment Preference: Cryptocurrencies became the second most preferred investment tool in Turkey, following real estate.
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Demographic Trends: The age group of 24-35 years emerged as the most active in crypto investments, followed closely by the 18-24 age bracket.
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Market Positioning: Continuing its trend from previous years, Turkey remained the third-largest market for Binance in 2023.
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Europe's Crypto Hub: Turkey maintained its position as the country with the highest crypto volume in Europe.
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Crypto Investor Growth: The total number of crypto investors in Turkey surpassed 10 million, with active users reaching 2.5 million.
These statistics not only demonstrate the growing impact of crypto in Turkey but also highlight the evolving dynamics of the market, setting a promising landscape for 2024 and beyond.
Eunomia's 2024 Vision
Following the challenging market conditions of 2023, the global crypto sector is anticipated to experience significant growth and various bullish trends in 2024. Along with this development, we at Eunomia foresee a potential fivefold increase in crypto investments in Turkey, mirroring the previous bull market.
Especially during bull markets, the Turkish community has shown a tendency to pivot all investment options towards crypto. In line with this trend, we aim to expand our collaborations to at least 30 global brands, expecting the number of international projects entering the Turkish market to triple.
To support these ambitious goals, we plan to proportionally increase our team size, ensuring that we maintain our standard of quality in services. Furthermore, Eunomia is set to strengthen its design capabilities, focusing on areas like Web3 product design, website logo and branding, and UX/UI design enhancements. This strategic expansion reflects our commitment to being at the forefront of the rapidly evolving crypto landscape in Turkey and globally.
Get ready to be a part of this exciting journey! As the Eunomia team, we are here to support you in the Turkish market. If you'd like to discuss your project or ideas, you can contact us through the email hi@eunomia.team or reach out to us via our social media accounts!