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A7A5 Claims $34 Billion in Volume as Analysts Question Usage

GateNews
Market Analysis
According to blockchain analytics firms, a dispute has emerged over A7A5, a sanctioned Russian ruble-backed stablecoin, and its reported trading activity. A7A5 claims $34.4 billion in total volume between January 1 and June 17, with an average daily volume of $205 million. However, TRM Labs analyst Chris Keegan estimates the actual average daily volume at closer to $75 million, with approximately 34% of observed transaction volume involving circular fund movements that may artificially inflate activity. Elliptic co-founder Tom Robinson reported that A7A5's monthly transaction volumes have declined more than 90% since January and 96% below their peak last year, attributing the decline to sanctions imposed by the U.S., the European Union, and the United Kingdom.
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