Russian Ruble’s Monthly Volume On Binance Drops 83% In Two Years

• The monthly trade volume of Russian Rubles (RUB) on Binance has dropped 83% in 2 years.
• The monthly RUB trade volume went from $507 million in 2021 to $85 million in 2023.
• Meanwhile, the trade volume of Ukrainian Hryvnia (UAH) has declined even more than RUB.

The monthly trading volume of Russian Rubles (RUB) on the Binance Exchange has reportedly declined more than 83% in the past two years. Meanwhile, the trade volume of Ukrainian Hryvnia (UAH) on the world’s largest crypto exchange has sunk even more than the RUB’s volume. It is likely that the ongoing conflict between Russia and Ukraine is the cause of this decline. 

Crypto research firm Kaiko took to X (formerly Twitter) earlier today to report the sinking trading volumes of RUB and UAH on Binance. According to trading data gathered by Kaiko, RUB’s monthly trading volume went from $507 million in 2021 to a modest $85 million this year, marking a decline of 83.2%…

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