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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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Bitcoin Stalls as Threat of Crypto Sanctions Arise

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.