Sanctioned Ruble Stablecoin A7A5 Claims Daily Trading Volume Exceeds $100 Million; TRM Labs, Elliptic and Others Question Data

CoinFeed reported on July 4th, according to CoinDesk, the sanctioned ruble-pegged stablecoin A7A5 is in a heated dispute with blockchain analytics firms over its actual usage and trading volume. A7A5 claims that crypto data providers have underestimated its trading activity, while blockchain analytics companies say that trading volume of this ruble-backed token has declined sharply this year. The A7A5 issuer claimed that from January 1 to June 17, 2026, cumulative processed volume reached $34.4 billion, with an average daily trading volume of approximately $205 million, mainly from DeFi activity. However, TRM Labs believes that A7A5's average daily trading volume is close to $75 million, and trading activity has decreased in recent months.