Ukrainian Hryvnia Volume Soares High In Crypto Market
Crypto circle recently retorted the Russian attack on Ukraine a week ago, joined to help Ukrainian citizens, upended donations worth $30 million. The main objective of such handsome donations is to help the people affected by the Russian attack. Bitcoin and the other digital crypto assets are appearing hot spots because many people of Ukraine […]
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Russian rubles are now flooding into Tether, while rubble-denominated crypto pairs are on the rise on major crypto exchanges. Between February 20 and February 28, Bitcoin volume surged by 243%, from 522 to 1,792 BTC traded via Binance’s BTC/RUB combo. A Russian government study claimed Russians held 2 trillion rubles ($20 billion) in cryptocurrencies. Related Article | Bitcoin Staggers After Putin’s Nuclear Deterrence Alert Warning Rubble-Denominated Crypto Pairs Surge On February 28, a tremendous spike in the volume of the ruble pairings in Binance, especially in USDT, became....
President Volodymyr Zelensky has signed a law that will allow the National Bank of Ukraine to issue its own digital currency. The new legislation, which aligns Ukrainian regulations with EU rules, will also stiffen authentication requirements for clients of payment service providers. New Legislation Allows Ukrainian Central Bank to Issue Digital Currency The President of Ukraine Volodymyr Zelensky has signed the law “On Payment Services” which was adopted by the Ukrainian parliament on June 30, the president’s administration announced this week. The legislation aims to....
Employees of Ukraine’s Ministry of Digital Transformation may become the first in the country to get their salaries in digital currency. The National Bank of Ukraine is developing an electronic version of the Ukrainian hryvnia and the ministry is considering the option of using the state-issued coin for remuneration. Government Employees to Be Paid With Digital Hryvnia The Digital Ministry is planning to compensate its employees with Ukraine’s central bank digital currency (CBDC), once the new hryvnia is ready for testing. In a recent interview with online news portal TSN,....
The cryptocurrency craze has spread to countries across Europe as people search for ways to protect their money from war-torn nations. Data from the crypto tracking site Kaiko shows that ruble and Ukrainian hryvnia-to-crypto volumes have shot up in recent days, reaching multi-month highs. Related Reading | Bitcoin Staggers After Putin’s Nuclear Deterrence Alert Warning The data show that trading volumes in the ruble-bitcoin (BTC-RUB) pair are at historic high levels. Last time we saw the same level was in May 2021. The increase in Ruble-denominated Bitcoin (BTC) trade volumes is....
The last time USDT premiums spiked so suddenly on Kuna was during the initial stages of the COVID-19 pandemic in 2020. Against the backdrop of an ongoing Russian invasion, the price of Tether's USDT stablecoin soared to as high as 36.97 Ukrainian hryvnia (UAH) on Ukraine's Kuna exchange on Thursday. The total trading volume of all cryptos on the exchange amounted to about $4.4 million in the past 24 hours.During the same period, mid-market rates from foreign exchange data provider XE indicated that the UAH currency had only surged to a maximum of 29.89 per U.S. dollar. In other words, the....