Russia is always an interesting region when it comes to Bitcoin and other cryptocurrencies. Despite the nation’s negative sentiment toward this form of money, citizens are actively visiting crypto exchanges and trading platforms.
The demand for Bitcoin and altcoins appears to be rising in Russia.
More Exchange Traffic From Russia
That is, at least as far as the website traffic for exchanges is concerned.
Since the coronavirus outbreak began, this shift in momentum has only intensified.
Russians are very eager to diversify their assets and investment portfolio, by the look of things.
Research by Qrator Labs confirms that crypto exchanges note a hefty increase in Russian traffic.
This does not appear to only apply to domestic service providers either.
Primarily foreign exchanges will reap the benefits of this web traffic spike.
As Russia remains on lockdown until April 30th, this trend may continue for another two weeks.
Despite the increase in traffic, it remains to be seen if Russians are actively buying cryptocurrencies.
Following the recent market momentum for Bitcoin, it seems likely to assume that the world’s leading cryptocurrency is gaining attention.
All of this momentum can be undone if and when Russia introduces official crypto regulation, however.
That may occur at any given moment, as it has been rumored for several months now.
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