Russians increased investment in Tether over the weekend

Russian investors sharply increased their investment in the stablecoin Tether (USDT) at the end of last week.

According to Bloomberg, on Saturday, June 24, at the height of the political crisis, the volume of investments in USDT amounted to about $15 million.

The most popular among Russians were exchanges that process transactions with digital currencies paired with the ruble. According to CCData, users of the Binance, Cryptonex, HitBTC and Coinsbit platforms demonstrated the highest activity.

At the same time, the volume of bitcoin transactions paired with the Russian currency, on the contrary, decreased from $4.9 million to $1.1 million over the weekend, analysts emphasized. The Tether press service has not yet commented on the information received.

Kaiko found that the amount of USDT transactions in the Russian market reached the highest level since December last year.

Tether tops the list of fiat-backed digital currencies. The capitalization of this stablecoin is just over $83.229 billion.

This is followed by USDC, the market supply of which has decreased to $28.359 billion. It closes the top three DAI stablecoins. Its capitalization at the end of June increased to $4.706 billion.