[Russian Ruble Stablecoin A7A5 Transfers Over $100 Billion in One Year, Now Down 96% in Market Value] BlockBeats News, July 29: Blockchain analytics firm Elliptic reported that the ruble-backed stablecoin A7A5, supported by a sanctioned Russian state-owned bank, transferred over $100 billion in its first year of operation and was used to circumvent Western sanctions. Currently, the token's market size has shrunk by 96%. Elliptic noted that although A7A5's smart contract remains operational, a stablecoin only holds real value if it can be redeemed. Following sanctions imposed by the U.S., U.K., and EU on the network behind A7A5, the token's on-chain funds have been explicitly labeled as "sanctioned." Mainstream trading platforms generally conduct compliance checks on deposit addresses, using on-chain analysis tools to identify related fund flows and freeze or intercept the funds. Even though A7A5 itself cannot be frozen, its actual circulation capacity will still be severely restricted as long as its fiat on/off ramps and trading channels are blocked. [Original Link]