25.02.2025 00:13
Last year, the cryptocurrency market, combined with the depreciation of the Turkish Lira, offered investors remarkable gains. In particular, the performances of digital assets such as XRP, Dogecoin, and Shiba Inu enabled investors to achieve high returns in Turkish Lira.
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On February 24, 2024, 1 US dollar was 33.9146 TL, and a year later this value rose to 36.4440 TL. This situation allowed investors who gained in dollar terms to obtain additional advantages in Turkish Lira.
XRP INVESTORS INCREASED THEIR WEALTH IN 1 YEAR
Ripple's native token XRP rose from 0.50 USD to 2.48 USD last year, providing a record return of approximately 396% in dollar terms. Combined with the depreciation of the Turkish Lira, XRP investors achieved even higher gains. The price of Dogecoin increased from 0.0855 USD to 0.230467 USD, showing an increase of approximately 169%. This increase, combined with the depreciation of the Turkish Lira, also meant significant gains for DOGE investors.
Shiba Inu rose from 0.00000963 USD to 0.0000148 USD, providing an increase of approximately 54% in dollar terms. However, this return remained more limited compared to other cryptocurrencies. Considering the depreciation of the Turkish Lira, SHIB investors achieved relatively lower gains.
EXPERTS FIND MEMECOINS RISKY
Financial analysts emphasize that cryptocurrencies have high volatility and that assets referred to as memecoins may be subject to sudden price fluctuations, making them risky for long-term investments. It is noted that investors should carefully analyze the technological infrastructure, use cases, and global economic conditions of the projects before making decisions.
In conclusion, the cryptocurrency market offered attractive opportunities to selective investors last year. However, it is crucial for those considering investing in this area to conduct a comprehensive evaluation before making investment decisions.
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