2026-01-22 11:40:11

Blockchain data analysis shows that the ruble-pegged stablecoin A7A5 has been in circulation for less than a year since its launch, and on-chain trading volume has already surpassed $100 billion. An interesting aspect behind this figure is that the exchange volume is about $17.3 billion, with the main traffic concentrated on the Kyrgyzstan-based exchange Grinex, where users frequently use it to exchange USDT.

In simple terms, A7A5 acts as a transit bridge between the ruble and USDT. This reflects the practical application of stablecoins in the trading ecosystem of specific regions—regardless of the purpose, the market is indeed using such tools to transfer value. From the scale of the data, the on-chain activity of hundreds of billions of dollars indicates how strong the liquidity demand for stablecoins is, even in markets with policy restrictions where they can still find a place to survive.

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GasBankrupter

· 9h ago

The Ruble stablecoin is so powerful, a hundred billion in trading volume in just a few months, Kyrgyzstan really has money. --- I like the idea of a transfer bridge, what are we bypassing? Don’t you all have a sense of it? --- Even with policy restrictions, a hundred billion in trading volume is still possible. I have to admire the resilience of stablecoins. --- 173 billion on exchanges, where is the rest? It’s a bit suspicious. --- I understand the logic, just trying to cycle from Ruble to USDT and back, clever. --- Less than a year to break 100 billion, what will be next? Stock up? --- Kyrgyzstan’s exchange traffic is so strong, why haven’t I heard about it?

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OnChainDetective

· 9h ago

100 billion dollars in on-chain transaction volume... Wait, 17.3 billion in trading volume? That number doesn't add up, it's more than six times off. Who's behind the manipulation? Keep a close eye on the wallet clusters over at Grinex; it feels like a major player is operating. Ruble USDT transfer... Got it, this is just a black box of finance bypassing sanctions. The A7A5 stablecoin is a bit sinister, rising so rapidly in less than a year? Who's behind the scenes controlling it? Kyrgyzstan exchanges account for the majority of trading volume, which is counterintuitive... actual trading volume might be far beyond expectations? What do the on-chain evidences point to? Which institutions' addresses are these funds flowing to? A trillion dollars in activity, but only 17.3 billion in trading volume... The whale movements smell very fishy.

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BlockchainTalker

· 9h ago

actually... if we look at this through the lens of *where capital actually flows* vs. where regulators think it flows, this A7A5 thing is kinda the blueprint, ngl. like, 173B on grinex is nothing to sneeze at — that's not just "trading," that's *infrastructure arbitrage* happening in real time.

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NewDAOdreamer

· 9h ago

Ruble stablecoins surpass 100 billion in a year, truly impressive. The avoidance mechanism is well understood.

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DuckFluff

· 9h ago

Ruble stablecoins have exceeded 100 billion in one year. This wave of liquidity is really quite intense... Areas where policies can't be controlled have become the most active trading zones. Can you say whether this is a good thing or a bad thing?

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TrustMeBro

· 9h ago

Will the Ruble stablecoin surpass 100 billion in a year? That's an outrageous number. Mainly, it's just trading USDT in Kyrgyzstan... To put it simply, it's a tool for evasion. Even with policy restrictions, there's still a market. Quite realistic.

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MissedTheBoat

· 9h ago

Hundreds of billions of dollars in scale, I really didn't expect the Ruble stablecoin to be so powerful. Even under policy crackdown, it can still thrive so comfortably, thanks to the intermediary bridge strategy. The users in Kyrgyzstan are really good at playing; they quietly built up the traffic like this. Stablecoins are inherently resilient; no matter what restrictions are imposed, there's always a way to find a loophole. Less than a year, over a hundred billion in transactions—these numbers are a bit shocking. A7A5's move was quite clever; more and more alternatives to USDT are emerging. It's another story of a policy loophole being filled; who will be the next? This is the vitality of Web3, no matter how many restrictions, it can't be killed.

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