Ukrainian exchanges saw premium prices of Bitcoin: Ukraine vs Russia
Due to the high voltage geopolitical situation in the world, Ukrainian crypto exchanges saw a huge surge in trading volume.
At the time of writing this article, the price of Bitcoin is $38,445 on the global crypto exchange Binance. This price is 10%+ high over the last 24 hours. The overall crypto market is showing better aggression toward recovery.
According to reports, almost every crypto exchange in Ukraine saw a huge surge in the trading volume. In particular, the trading volume at the Kuna exchange was US$1.5 million on the last day but now it is around $5 million.
If we compare the price of Bitcoin on Ukrainian crypto exchanges then we will find that it is 7% high over the global market price of Bitcoin. These things are showing that Bitcoin and crypto assets are getting better demand in Ukraine under Emergencies.
Reports claimed that the price of crypto assets on Ukrainian crypto exchanges surged because of the announcement of military operation by the Russian president Putin on Ukraine. However these things are a favorable situation for the crypto Industry but in actuality, it is not much good for the future situation in Ukraine, because these are hints that Ukrainians are not under full confidence with the economic strength of Ukraine.
Ukraine to suspend e-Money cash digital services
Reportedly on 24 February, the Bank of Ukraine announced the restrictions on many services including e-Money services. However, nothing is 100% confirmed as to why the government took this decision but reports noted that Ukrainian agencies believe that Russian hackers may exploit the financial system of Ukraine, so it was a necessary decision.
Few experts claimed that restrictions on the e-Money cash Digital services by Ukraine’s Government acted as a catalyst to give confidence to the citizens to go with crypto. But this fact is how much is real, no one knows.
Due to the surge in the high traffic trade and volume on the exchanges, some exchanges faced some technical issues. Even the top first-ranked crypto exchange Binance faced technical issues.
Read also: Ukrainian military getting Bitcoin donation support: Russia vs Ukraine
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