ETH/RUB consists of the second largest cryptocurrency Ether and the Russian Ruble (Rouble), the national currency of the Russian Federation.
When trading this pair, you can focus on the political risks, the prices of oil and natural gas as they have a certain impact on the RUB value. So, in periods of economic stability and when there are no adverse political events, traders can expect a fluctuation of a couple of per cent in ETH to RUB rate within a trading day. Monthly volatility of the pair may be up to 20 per cent.
Ethereum was introduced in 2015 by a Russian-Canadian programmer Vitaly ‘Vitalik’ Buterin. It is an open-source platform that utilises blockchain technology to create and execute distributed applications (DApps). Users can create or join so-called ‘smart contracts’ directly without third parties, limiting the possibility for fraud.
Ethereum is commonly used as a name of the associated cryptocurrency but in fact, Ethereum is the system or network while Ether or ETH is the native currency. Users need to have Ether when they want to execute a certain transaction through the system.
The factors can be divided into two groups – the ETH related and those affecting the general cryptocurrency market.
Ethereum specific factors are:
General factors related to the crypto world:
The Russian Ruble (Rouble) or RUB is the national currency of the Russian Federation. It is perhaps one of the oldest currencies in circulation in Europe as it originates from the 13 century and has an 800 years long history. The currency experienced at least four redenominations in the last 100 years.
The value of the currency and consequently, the ETH to RUB rate may be under the influence of numerous domestic and international factors. An economic slowdown, hindered balance of payments, capital outflow and insufficient level of foreign investments harm the RUB value. Also, if you want to trade the pair, monitor the changes in oil prices because an increasing oil price may strengthen the RUB and vice versa.
Aside from economics, watch for the political situation and the relationship of Russia with other countries. For example, the introduction of sanctions against the Russian Federation had a negative effect on the RUB in the past.
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