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Surge in Ruble-based BTC, USDT volume as Dollar strengthens over RUB
Resurgence in bitcoin and tether volumes paired with russian ruble
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Quick Take
During the recent attempted Russian coup, CryptoSlate reported a surge in both Bitcoin (BTC) and Tether (USDT) volumes paired with the Russian Ruble (RUB). Interestingly, this trend seems to be resurfacing.
As of today, July 7, the daily trading volume for the BTC/RUB pair has soared, exceeding $2 million. This marks the highest trading volume since June 21. Similarly, the RUB/USDT pair reached $7 million in volume, which is also the highest since the same date.
One noteworthy point is the continuous weakening of the Ruble against the U.S. Dollar. Currently, the exchange rate stands at 93, signifying an ongoing decline of the Russian currency versus the Dollar.
Considering these developments, a question arises: Are investors increasingly gravitating towards USDT and BTC in these turbulent times?
Market Cap $1.59T
24H Volume $36.89B
