KimonoSerenity
Fri Jul 05 2024
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How much does Iran's crypto market cost in 2022?
Considering the recent developments in Iran's crypto market, one might inquire about its overall cost in 2022. According to TRM Labs' research, the estimated volume of crypto transactions on Iranian exchanges in 2022 was nearly 3 billion US dollars. A significant chunk of this, approximately 87%, was handled by the major exchange, Nobitex. Additionally, it's noteworthy that 89% of the incoming crypto was processed by exchanges that adhere to KYC regulations. However, the cost of Iran's crypto market is not merely a matter of transactional volume. It also involves factors such as the electricity costs for mining, which are expected to rise due to the Iranian government's recent decision to increase electricity tariffs for crypto mining. Moreover, the political tensions between Iran and other countries, such as Israel, have also had an impact on the market, leading to sharp fluctuations in crypto prices. Therefore, when considering the cost of Iran's crypto market, one must take into account both transactional volume and the various external factors that influence it.
