USDT Trading Volume Hits 6-Month High
According to Kaiko data, the USDT-Russian ruble trading volume has reached its highest level since December 2022.
According to recent data, the total daily volume of trades between the country’s legal currency and Tether’s stablecoin – USDT – has reached a six-month high.
Another study, presented by CCData, revealed that the daily volume of ruble-USDT trade increased to about $15 million on June 24.
The insurrection against Putin’s authority organised by Wagner Group, a Russian private military firm formed of mercenaries, appears to have raised interest in trading Ruble against USDT.
Apart from exposing severe flaws in Russia’s army and disagreements within its divisions, the Wagner mutiny appears to have sparked increased Russian interest in cryptocurrency.
(With inputs from Shikha Singh)
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