BTC trading in Russia has significantly increased due to COVID-19

• As lockdown impacts our daily lives thanks to the pandemic brought on by COVID-19, cryptocurrency has been a hot topic. 
• Economies all around the world are in a state of confusion and negative movements but when it comes to the world of crypto, things seem to be on the up.

As lockdown impacts our daily lives thanks to the pandemic brought on by COVID-19, cryptocurrency has been a hot topic. Economies all around the world are in a state of confusion and negative movements but when it comes to the world of crypto, things seem to be on the up.

Earlier this week on the 4th of June, a new study performed by a select number of crypto platforms based in Russia revealed a significant rise in BTC trading across the country since March. Reports suggest that representatives from the Russian offices of platforms such as Binance have made note of the significant growth in the number of users in Russia.

The head of the representative office in Binance Russia, Gleb Kostarev has explained that the number of registrations on the platform during April this year was two times higher than in December last year. He further said:

"It is worth noting separately that the popularity of futures trading is growing among Russians. In April and May, trading volumes of these instruments are twice as high as in March and five times in January."

The founder of the Garantex exchange, Sergey Mendelev, has spoken on this matter saying that the increase on crypto platforms was not associated with those people who withdrew money from deposits or received money from the budget. To this end, Fedor Anaschenkov (United traders analyst) has said that the self-isolation/lockdown that has been put in place in many countries around the world was one of the key factors that lead to increased trading volumes on many different platforms.

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