Bitcoin, Tether, Ethereum Trade for Premiums in Ukraine, Hryvnia BTC Price $3K Higher Than Global Average

Bitcoin, Tether, Ethereum Trade for Premiums in Ukraine, Hryvnia BTC Price $3K Higher Than Global Average

After Ukraine’s central bank imposed a limit on cash withdrawals, Kuna, a cryptocurrency exchange that provides trades in ruble and hryvnia saw a notable surge in volume. Moreover, to this day, crypto-assets being swapped on Kuna such as bitcoin, tether, and ethereum are trading for a significant premium.

Crypto in Ukraine Sees Premiums

The ongoing conflict continues in Ukraine after Russian troops invaded the territory. The United Nations (UN) estimates that roughly 100,000 Ukrainian citizens have fled the country during the last 24 hours.

Following the Russian invasion, two days ago, the National Bank of Ukraine (NBU) implemented a daily cash withdrawal cap of 100,000 hryvnias ($3,350). The NBU invoked the mandate on February 24, after Ukrainian president Volodymyr Zelensky imposed martial law.

Immediately following the NBU’s limit mandate on cash withdrawals, the cryptocurrency exchange Kuna saw trade volume surge by $3.5 million on Thursday. Trade volume on Kuna jumped from $1.4 million to a high of $4.8 million with most of the trading pairs in hryvnia (UAH).

Volume remains higher on Kuna as volume on the crypto exchange was $780 million six days ago, but today, Kuna’s exchange volume is $1.4 million. Not only does the exchange allow trading in hryvnia (UAH), traders can also swap coins in ruble (RUB).

There’s also a premium on bitcoin (BTC), ethereum (ETH), and tether (USDT) on the Kuna exchange as tether is swapping for $1.08 per token at the time of writing. Outside Ukraine, at the same time, tether (USDT) is exchanging hands for $0.99 per coin.

On Kuna, leveraging the hryvnia (UAH) pair, a single ethereum (ETH) is currently swapping for $2,982.83 per unit, while outside the Ukraine ETH trades for $2,770 per unit.

Bitcoin (BTC) is exchanging hands for $42,106 when swapped with the hryvnia (UAH) pair, as the premium is $3,124 more expensive than the crypto asset outside Kuna’s platform.

Localbitcoins.com bitcoin (BTC) prices are also seeing a premium as some sellers are selling for prices as high as 1,296,879.12 UAH/BTC or $43,480 per coin. However, localbitcoins.com metrics for this week show trade volume in Ukraine is currently lower than usual.

Similarly, localbitcoins.com has not seen any meaningful upswings in BTC trade volume in Russia. As far as Kuna is concerned, there is a RUB/BTC premium as BTC is swapping for $40,705 or 3,414,848 RUB. ETH/RUB on Kuna has a premium as well but not as high as the premium for hryvnia (UAH) ether swaps.

What do you think about the premiums on bitcoin, tether, and ethereum in Ukraine? Let us know what you think about this subject in the comments section below.



from Bitcoin News https://ift.tt/irpvtSH

Comments

Post a Comment

Popular posts from this blog

L2 Crypto Project Blast Achieves $660M TVL Amid Mockery for Key Developer Recruitment

Image
Recent data reveals that Blast, the new layer two (L2) blockchain platform, has amassed a significant $660 million in value within its decentralized finance (defi) protocol. Concurrently, while accumulating a variety of crypto assets, the initiative has commenced a search for experienced senior blockchain developers. While Amassing $660M, L2 Blast Project Searches for Developers In recent times, Blast has emerged as a focal point of interest. This project, conceptualized by Pacman , the mind behind the non-fungible token (NFT) marketplace Blur, has rapidly gained traction. Within a span of less than a week, the platform’s total value locked (TVL) soared to approximately $400 million. Concurrently, Blast faced allegations of resembling a Ponzi scheme. During this period, Paradigm, a principal investor in the project, admitted that the team had overstepped in certain aspects of communication and implementation. Pacman has also countered the Ponzi scheme allegations and further cl
Read more

Harsh Laws Make Bitcoin Holders Consider Renunciation or Dual Citizenship

Image
As digital currencies become a mainstay in society, a great number of governments have enforced strict tax guidelines, severe money transmission rules, and tough regulations. Because of a few nation-states’ harsh rules against cryptos, there are individuals who plan to renounce their citizenship in order to become stateless. Some people will also attempt to get double-citizenship, as both of these acts may help sovereign individuals avoid government intrusion and theft. Also Read: As FATF Regulations Galvanize, Crypto Mixing Applications Are Targeted A Cryptocurrency Advocate’s Quest for Financial Sovereignty May Involve Hard Choices It’s been close to 11 years since the inception of Bitcoin and during the last few years government agencies and law enforcement have been cracking down on digital currency holders. In certain areas around the world, a few countries have extremely difficult crypto laws and stringent capital gains taxes. Countries like the U.S. have imposed strict regul
Read more

2021 Bitcoin Price Predictions: Analysts Forecast BTC Values Will Range Between Zero to $600K

Image
As bitcoin has touched new price highs on Thursday nearing the $50k handle, people have been curious as to where the price will go in the future. Meanwhile, despite the gains so far, a number of luminaries, analysts, executives, and proponents from the crypto space believe the leading crypto asset will reach between $60k to six-digits this year. Mike Novogratz Predicts $100K Bitcoin: ‘Other CFOs and CEOs Are Saying, What Should We Be Doing?’ Satoshi Nakamoto’s invention has gained mass appeal in recent times as the leading digital asset bitcoin ( BTC ) has reached its highest value ever in 2021. On Thursday morning (EST), BTC spiked to an all-time high (ATH) at $48,697 per unit. Earlier in the morning at around 2 a.m., bitcoin was exchanging hands for $44,485 and saw an 8.98% increase since then. At the time of publication, at 6:30 p.m. (EST) on February 11, 2021, bitcoin (BTC) is swapping for $47,821 per coin. With BTC so close to the $50k mark, people have been forecasting
Read more