Ribble-cryptocurrency trading increases as sanctions fall on Russian currency

View Russian ruble coins Shown in a photo taken on March 25, 2021. REUTERS / Maxim Shemetov / Illustration

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LONDON, Feb. 28 (Reuters) – Trades between Russian ruble and Tate Cryptop rose sharply on Monday, as domestic currency soared under Western sanctions, according to Reuters.

Oscar-based digital asset researcher Arkan Research reports that Robel-based trading with Tetter – the so-called stable currency – reached $ 29.4 million this year and tripled a week earlier.

Stablecoins is a type of cryptope designed to help you deal with the wildfires that plague bitcoin. In theory, their fixed assets allow consumers to save money in times of economic stress.

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Russia’s foreign intelligence service has denied the allegations in a statement issued Friday stating “Similar, baseless allegations concerning Ukraine’s nuclear program have been made more than once.

The Russian ruble fell to a record high on Monday, losing one-third of its value so far, and lifting sanctions, including blocking Western banks from Swift’s international payment system. Read more

The 13-year-old story shows that the exchange between ruble and bitcoin (BTC), which was soaked in wild pepper prices, has become even more silent.

The ruble-bitcoin trade rose to $ 16 million on Thursday, the highest level this year since Russia launched its invasion. It reached $ 8.5 million on Monday.

“People with ruble are trying to get out of it because of the devastating aftermath of all sanctions,” said Arkan Benedict Norham Shay.

“In the current market situation, investors are at least in Russia, looking for stablecoins and not risking the market for BTC. This is not an investment, it is saving their money.”

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Reporting by Tom Wilson; Edited by Simon Jessop and Toby Chopra

Our standards are published in The Thomson Reuters Trust Principles.

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