Crypto Adoption Rises in Turkey and South Korea Amid High Inflation and Forex Controls

Turkey saw bitcoin prices rise due to high inflation and lira devaluation, leading to increased crypto adoption.

The Turkish finance minister predicts inflation will remain high in coming months as the lira has declined over 40% against USD in past year.

OKX recently launched a platform to serve Turkish crypto traders specifically with TRY trading pairs.

South Korea's "Kimchi premium" on bitcoin rose 10% due to strict forex controls limiting foreign investment in local crypto exchanges.

The premium signals increased buying pressure and has previously risen around bitcoin price tops, such as last week's brief rise above $69k.