Russian Cryptocurrency Exchange Expected to Reach $46.43 Billion in First Year

BlockBeats News, August 31st, according to TASS, Anatoly Popov, Deputy Chairman of Sberbank, stated that the estimated size of Russia's cryptocurrency market in the first year is expected to be no more than 4 trillion rubles (about $46.43 billion), and by 2029, it could reach 7.5 trillion rubles (about $87.06 billion).

Popov mentioned that according to Russian Ministry of Finance data, as of February this year, the daily cryptocurrency trading volume in Russia was around 50 billion rubles, with an annual scale of about 18 trillion rubles.

SberCIB's investment research analyst conservatively estimates that in the first year of cryptocurrency legalization, about 20% of the trading volume, equivalent to 3.5 trillion to 4 trillion rubles per year, will be traded on exchanges. By 2028, this volume could increase to 4.75 trillion to 5.25 trillion rubles, reaching 7.5 trillion rubles by 2029.