Russian stablecoin usage surged after Ukraine invasion: Report

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Russian stablecoin usage surged after Ukraine invasion: Report

According to Chainalysis data, Russia’s stablecoin usage has increased since the onset of the war, due partly to ordinary Russian citizens seeking to protect their assets.

Source: Russian stablecoin usage surged after Ukraine invasion: Report

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[Alcor]

The people in Russia have begun to gradually realize that the Kremlin regime has drawn them into a criminal adventure with the conquest of Ukraine, and for this they will pay for many generations to come. Despite the fact that efforts to artificially stabilize the ruble made its exchange rate stronger in the first months after the military invasion of Ukraine, many Russians realized that this was only temporary and that they needed to protect their savings. Moreover, the Central Bank of Russia began to take restrictive measures to withdraw capital from Russia.

Stablecoins and cryptocurrencies have been a good way to counteract the Russian banking system, but in general, Russians will rapidly become poorer due to the unleashed war and sanctions. The Russians are still more than 80 percent backing Putin in the mass rocket fire on civilian Ukrainian cities in recent days. All citizens of Russia will have to pay very hard for the pleasure of kill Ukrainians.