Cryptocurrencies
Russia’s Crypto Volumes Are Stalling Across the Major Exchanges
- Chainalysis data suggests Russia-based demand remains modest
- Citigroup says recent Bitcoin rally fueled by positioning bets
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The Russians-are-evading-sanctions-via-crypto narrative looks off the mark.
As the world’s largest digital currency rallied 12% Monday, expectations of surging demand from Russia-based investors was cited by some in the industry as the proximate cause.