Investors think that crypto will become more important
The crypto will be increasingly important apolitical and trustless money in a time of escalating geopolitical uncertainty, conflict, and capital controls,” Arcane research wrote. Due to the Russian invasion of Ukraine, the daily Bitcoin volume peaked at a level never seen before for three months. The intentions of selling from investors looking to take risks off the table on Feb.24 may also come up with the surge in daily BTC volume, as the price declined 10% on that day.
The Real Trading Volume refers to data sourced from exchanges that are believed to be well respected and free of wash trading activities. At this moment, Arcane Research dragged its figures from the Bitwise 10 exchanges along with LMAX AND FTX.
Russia invaded Ukraine last week, prompting the smaller European nation to solicit aid in the form of both weapons and funding to support its effort to repeal its neighbor.“ Arcane research says that on Feb 28 Bitcoin(BTC) price increased by 14.5% in just 24 hours. The surge in part to Russian or Ukrainian crypto adoption (although the actual volume is relatively small in global terms) along with increased speculation on crypto’s use cases amid the current Russian invasion.