Wu Blockchain reports that blockchain analytics firm Elliptic stated in a post that the ruble-backed stablecoin A7A5, supported by sanctioned Russian state-owned banks, facilitated over $100 billion in transfers during its first year by circumventing Western sanctions. However, its price has now dropped by 96%. Elliptic noted that although its smart contract is still operational, after the U.S., U.K., and EU sanctioned the network behind A7A5, related token transactions can be identified by exchanges and blockchain analytics tools. Funds may be frozen or intercepted, causing disruptions to its on/off-ramp channels. https://(wublock123.com)/news/elliptic-a7a5-stablecoin-falls-96-percent-sanctions-blocked-on-off-ramps-65541