A7A5 Stablecoin Deep Dive: Cryptocurrency backed by Russian Ruble

A7A5 Stablecoin, a cryptocurrency pegged to the Russian Ruble, has created over 1 trillion USD in on-chain transaction volume in less than a year.

As of January 28, 2026, the latest price of A7A5 on Uniswap is $0.01303, with a market capitalization of approximately $510 million, ranking around 152nd in the cryptocurrency market cap list.

01 A7A5 Price Key Data

As of January 28, 2026, A7A5 stablecoin exhibits relatively stable price characteristics. According to data from multiple mainstream market platforms, its core price indicators are as follows.

The latest price of A7A5 is approximately $0.01303. In the past 24 hours, the price fluctuated narrowly between $0.01294 and $0.01318, demonstrating the low volatility typical of stablecoins.

Its total market cap varies across data sources; CoinGecko reports about $510 million, while CoinMarketCap shows about $542 million. This discrepancy may stem from different statistical standards for circulating supply.

Below is a summary comparison of key market data for A7A5:

From a technical analysis perspective, the short-term moving averages (SMA10 and EMA10) both show buy signals, and the Relative Strength Index (RSI) at 55.48 indicates a neutral zone, with no signs of overbought or oversold conditions.

02 Project Background and Core Mechanisms

A7A5 is a stablecoin pegged to the Russian Ruble, aiming to maintain a 1:1 Ruble exchange ratio. The project is issued by Old Vector, a company based in Kyrgyzstan, fully compliant with Kyrgyzstan’s Virtual Assets Law enacted on January 21, 2022.

A7A5’s design includes several unique mechanisms. First, Ruble deposits are held in top-tier banks, which have extensive agency networks connected to the Kyrgyz Republic and can earn high overnight interest rates.

Second, the project commits to weekly reserve reports and quarterly external audits by independent firms to ensure transparency and accountability.

Most notably, its income distribution model: A7A5 automatically distributes 50% of interest income to all token holders, allocated at random times when funds are deposited into banks daily, allowing holders to receive these distributions without any action.

03 Market Performance and On-Chain Data

A7A5’s market performance shows clear phase characteristics. Before the international sanctions in August 2025, the token experienced rapid growth.

According to blockchain analysis firm Elliptic, since its launch, A7A5 has accumulated over $100 billion in on-chain transaction volume. Most trading activity occurred on Kyrgyzstan’s Grinex exchange.

However, since August 2025, when the US and other countries imposed sanctions on A7A5, its growth has been significantly restricted. New token issuance has essentially halted since late July, with daily trading volume dropping from a peak of $1.5 billion to about $500 million.

Major decentralized exchanges like Uniswap have blacklisted A7A5, and liquidity injection of USDT into its own DEX has also decreased markedly. Users transferring USDT from A7A5 to major exchanges face account freezing risks, increasingly isolating it from the broader cryptocurrency ecosystem.

04 Risk Alerts and Investment Considerations

Although A7A5 offers a unique mechanism design, investors must recognize the multiple risks involved. According to analyses from several security firms, this token exhibits several high-risk features.

In terms of smart contracts, developers can mint new tokens at any time or block specific wallets from trading, which contradicts the decentralized ethos.

Regulatory risk is the most severe challenge A7A5 faces. As a tool for Russian entities to evade sanctions, the token has attracted close attention from Western regulators.

Liquidity risk should not be overlooked. As major exchanges blacklist it, A7A5’s trading channels are increasingly limited, potentially affecting investors’ ability to buy or sell.

Market data shows that A7A5’s wealth distribution is highly concentrated, with the top 10 addresses holding over 98% of the circulating supply. This high concentration could make the token’s price susceptible to large holder manipulation.

Future Outlook

A7A5’s price trend has stabilized after August 2025, with daily trading volume remaining around $500 million, a stark contrast to the peak of $1.5 billion before sanctions.

This Ruble-backed stablecoin operates within Kyrgyzstan’s legal framework and attracts holders through its unique interest distribution mechanism. As major exchanges blacklist it, its trading channels are narrowing, gradually transforming it into a niche settlement tool within specific regions.