Investors are speculating that crypto will become increasingly important apolitical and trustless money. The “real” daily Bitcoin volume spiked to levels not seen for three months amid the Russian invasion of Ukraine.
The “real” daily Bitcoin volume spiked to levels not seen for three months amid the Russian invasion of Ukraine.from blockchain analytics firm Arcane Research, real daily BTC trading volume surged above the $10 billion last Thursday , marking the highest daily volume recorded since Dec. 4.
Strong selling pressure from investors looking to take risk off the table on Feb. 24 may also have contributed to the surge in daily BTC volume, as the price dipped 10% on that day. Since Feb. 24, the real daily BTC volume has dipped to around $7.5 billion as of March. 1 according toArcane Research also highlighted that the price of BTC saw its largest daily percentage gain in over a year on Feb. 28, with the price jumping 14.5% in the space of 24 hours.
With financial services and markets severely disrupted in both Russia and Ukraine, there has been flow on effects for the use of cryptocurrencies.
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