The coup attempt of the Wagner Group, led by Yevgeny Prigozhin, in Russia led to activity in the crypto money markets. On-chain data recorded remarkable data during the short-term coup attempt.
After the events in Russia, it was seen that investors turned to the crypto money market. This was not surprising because investors preferred an open market all the time, as the markets were closed. Incoming data points to the sudden increase in interest of ruble holders in cryptocurrencies. The transaction volume of USDT/RUB parity reaching $8.53 billion is proof of this situation.
Like Tether, Bitcoin has also been noted to benefit from mobility. With the news of the coup, the BTC price initially fell, but then the situation reversed and the leading coin rose. As events faded on Sunday, some selling pressure was seen in Bitcoin. Remarkably, the BTC/RUB pair moved a few days before the military action. Analyst Jordan Finneseth said these early purchases “Some people know the event beforehand.“He points,” he said.
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