The recent rebellion against the Putin administration spearheaded by the Wagner Group, a Russian private military organization comprised of mercenaries, has prompted a notable increase in the trading activity involving the Ruble against the USDT.
The most recent data from Kaiko reveals that the trading volume of USDT against the Russian ruble has surged to its peak since December 2022. In the midst of the uprising, the Wagner Rebellion has sparked a growing interest in cryptocurrencies among the Russian people, while also shedding light on the vulnerabilities within Russia’s military and internal factions.
Recent statistics indicate a significant increase in the daily trading volume between the national currency and the stablecoin USDT, reaching a six-month high. Notably, during Russia’s “special military operation” against Ukraine in early 2022, the trading volume surged to over $30 million per day.
Likewise, according to the analysis conducted by CCData, the daily trading volume of the Ruble against USDT experienced a significant surge, reaching nearly $15 million on June 24. This surge occurred just one day after the private military organization staged a rebellion against the Russian government.
Russians have demonstrated increasing interest in the cryptocurrency sector on previous occasions, driven by various significant factors.
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