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      Cryptocurrency Trading Volume in MENA Reaches $350 Billion, Doubling from 2022

      The cryptocurrency trading volume in the Middle East and North Africa (MENA) has surged to $350 billion, doubling from approximately $100 billion in 2022, according to a report from the Bitcoin Policy Institute. This increase is attributed to various regional conflicts, particularly the ongoing situation in Iran, which has prompted a significant shift towards digital assets as a means of preserving value amid economic and geopolitical uncertainty.

      The report highlights that while Bitcoin initially experienced a decline alongside other risk assets following the outbreak of the Iran conflict, investor behavior shifted towards Bitcoin, resulting in its market capitalization share rising to a one-month high of 64.8%. In countries such as Egypt, Turkey, Lebanon, and Iran, the devaluation of local currencies has led to a growing reliance on Bitcoin and dollar-pegged stablecoins.

      Additionally, Gulf nations like the UAE and Bahrain are positioning themselves as attractive hubs for cryptocurrency firms and institutional investors by implementing favorable regulatory frameworks. Data from Chainalysis indicates that following recent US-Israel airstrikes, approximately $10.3 million was withdrawn from Iranian crypto exchanges, underscoring the role of cryptocurrencies in regions facing sanctions and financial instability.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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