The DeFiprime.com service drew attention to the fact that on Russian exchanges, Bitcoin is traded at $20,000 above the market rate.
After Russian banks were cut off from SWIFT, the ruble against the dollar fell to a record low: now 1 ruble is worth $0.009.
In response, the Russian central bank raised rates to 20% to cool the market, contain panicky demand for the currency and stabilize the ruble.
In recent days, the volume of BTC/ruble trading has been breaking records, it is clear that many Russians see bitcoin as a safer option than the ruble in its current state.
The price of Bitcoin has skyrocketed again. As of March 3, 2022, the token is trading at $43,593.20, well above its 2022 low of $34,391.
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