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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BoredWatcher

· 3h ago

This stablecoin is getting more and more wild, even the Ruble can be brought in, and the billion-dollar transaction volume shows that everyone is really using it. Rubles and USDT can both be connected, no matter how strict the policies are, they can't stop people's arbitrage desires. Breaking through 100 billion in less than a year, this growth rate is truly outrageous. Honestly, I'm a bit worried that these two might suddenly have problems someday. Kyrgyzstan is playing it very smoothly, the transfer bridge is really comfortable, no wonder the volume is so large. Stablecoins are basically modern underground banks, haha. But on the other hand, this is the real market demand.

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GateUser-75ee51e7

· 8h ago

Hundred-billion trading volume in less than a year? The Ruble stablecoin really revitalized Central Asia Exploiting policy loopholes to earn liquidity, this trick is indeed brilliant Grinex users are really skilled, making a slick USDT transfer hub The vitality of stablecoins is strong; no matter how you regulate, people will still use them However, with a trading volume of 17.3 billion and a on-chain market cap of 100 billion, the data might be inflated Restrictions due to policies have instead become opportunities? Web3 is indeed interesting A7A5, this newcomer, reached this scale in just a year, the pace of latecomers catching up Breaking through 100 billion in volume means success? It still depends on how long it can survive

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GasBankrupter

· 20h 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

· 20h 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

· 20h 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

· 20h ago

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

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DuckFluff

· 20h 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

· 20h 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

· 20h 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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