The US Dollar is considered as a reserve currency today. We can say that this is also a valid discourse for the investment world. Because current data shows that no fiat money can even come close to the dollar in cryptocurrency and foreign exchange transactions.
Crypto Money Transactions
Currently, almost every country has its own cryptocurrency exchange. At its simplest, crypto currency investors in Turkey were able to use several different crypto currency exchange. But for what purpose do people use the stock markets in their countries?
Today, many (if not all) investors use local exchanges only as a step to switch to global exchanges. After these investors switch to global stock markets, they stop using TRY and are trading with USD. This is true not only for Turkey, Japan, South Korea, Germany, etc. It is also valid for such countries.
We can see the effects of this when we look at the fiat currencies used in the crypto money market. According to Coinhills data, at the moment, no fiat money is used as often as the dollar in the crypto market.
According to these data, crypto money investors have made a total of 2,950,266 BTC transactions in the last 24 hours with fiat currencies. 80% of these transactions with fiat money were made in US dollars.