Ukraine-Russia warThe effects of the economy continue to change the economic balances.
last week in rubles Bitcoin (BTC) volumes approx. 1.5 billion RUBreached . Crypto trading volumes across the country have been on the rise due to geopolitical concerns.
As uncertainty about the future of Russia’s financial ecosystem grows, investors are turning to Bitcoin and other digital currencies.
Bitcoin volumes in Rubles hit 1.5 billion, the highest in almost 10 months, on Thursday.
At this point, it is worth noting that Russian investors are among the largest crypto owners in the world.
According to one claim, Russians hold about 12% of global crypto assets. That’s why the hot developments between the two countries are also closely related to the crypto community.
Data from Kaiko, one of the leading crypto research and analysis platforms, shows that cryptocurrency volumes in rubles are increasing across the market. According to Kaiko’s research analyst Clara Medalie, crypto trading is mostly concentrated on Binance.
How Is Bitcoin Affected By This Situation?
Bitcoin has taken a significant hit due to the conflicts between the two countries. Overall network activity presents a mixed picture. The token circulation of the leading cryptocurrency has also been on the rise recently.
On the other hand, Bitcoin’s coin circulation has reached a 9-month high. This also reveals how investors have become polarized with the current war. This increase in circulation is due to the “Black Thursday“It reminds me of.