Lens1000
VIP Contributor
Many countries have started to opt in for crypto regulations. Many opted for the ban while some countries have decided to tap into the fortune offered by cryptocurrency. Russia is not left behind in the regulation scene. It was made known in a briefing that Russia has decided to place regulations on the use of cryptocurrency.
However, recent data suggests that citizens are in no hurry to play the market as investors prefer to store crypto rather than speculate with up to 60% of Russians’ crypto wallets in a “dormant” state, according to Kommersant, citing a report by the MEXC cryptocurrency exchange.
Market players attribute this to the notion of cryptocurrencies being long-term investments, although rigorous market regulation also plays a role in discouraging investment in digital assets.
It was made known that so many investors wallets remin inactive for years in Russia. This is a clear indication that many are holding cryptocurrency.
Director of the Alfacash cryptocurrency exchange, Nikita Soshnikov, points out that the percentage of “sleeping” crypto wallets has been increasing for a year and a half and that Russia is among the top five nations in terms of this statistic.
According to MEXC estimates, more than 80% of Russian accounts had no activity for at least four months. 68 percent of these users, on the other hand, looked into their accounts at least three times a year, indicating that they did not forget their passwords.
However, recent data suggests that citizens are in no hurry to play the market as investors prefer to store crypto rather than speculate with up to 60% of Russians’ crypto wallets in a “dormant” state, according to Kommersant, citing a report by the MEXC cryptocurrency exchange.
Market players attribute this to the notion of cryptocurrencies being long-term investments, although rigorous market regulation also plays a role in discouraging investment in digital assets.
It was made known that so many investors wallets remin inactive for years in Russia. This is a clear indication that many are holding cryptocurrency.
Director of the Alfacash cryptocurrency exchange, Nikita Soshnikov, points out that the percentage of “sleeping” crypto wallets has been increasing for a year and a half and that Russia is among the top five nations in terms of this statistic.
According to MEXC estimates, more than 80% of Russian accounts had no activity for at least four months. 68 percent of these users, on the other hand, looked into their accounts at least three times a year, indicating that they did not forget their passwords.
