Bitcoin-ruble trading volumes surged as the West's sanctions on Moscow triggered a flight to safety away from the ruble. reports godbole17
Bitcoin-ruble daily trading volumes
Data tracked by Kaiko, a Paris-based cryptocurrency research provider, shows that ruble -denominated bitcoin volume surged to nearly 1.5 billion RUB on Thursday, hitting the highest since May. Similar trends were observed in tether-ruble and tether-hryvnia trading volumes, Medalie added. Tether , the world's largest stablecoin by market value, offers the unique feature of price stability in the often volatile world of cryptocurrencies by maintaining a 1:1 peg with the U.S. dollar.
The spike in the ruble-based crypto trading volume came as investors scrambled to move out of the ruble, fearing stricter sanctions from the West.