Bitcoin (BTC-USD) on Monday is zooming past $41K per token as trading volumes between the Russian ruble and BTC jump to a nine-month high, CoinDesk reported, citing data from crypto research provider Kaiko. Bitcoin (BTC-USD +4.9%) is climbed to as high as $41.3K on strong volume and ethereum (ETH-USD +1.1%) is rising toward $2.85K. The global crypto market cap is up more than 2% in the past 24 hours. It appears the Western sanctions against Russia and central bank restrictions on trading have triggered a flight from the ruble, as ruble-denominated bitcoin volume jumped to nearly 1.5B RUB on Thursday, the highest since May, CoinDesk highlighted. "The activity was concentrated on Binance," Kaiko Research Analyst Clara Medalie told CoinDesk via email. "Bitcoin-Ukrainian hryvnia volume has also spiked, but not as high as October levels. BTC-UAH only trades on 2 exchanges – Binance and LocalBitcoin." Note the ruble is plummeting almost 25% against the U.S.
