According to CoinGecko data, trading volume on Ukrainian crypto exchange Kuna has more than tripled since Russia invaded the Eastern European country on Friday. On Thursday morning, Asia time, the 24-hour trade volume at Kuna was around US$1.5 million, but it is now just under US$5 million as of press time.
Since the attacks, Bitcoin is currently trading at a 7% premium on the Ukrainian platform, indicating that local demand has outpaced available supply.
The Ukrainian exchange is presently trading bitcoin for US$41,554, which is US$2,821 more than the global price of US$38,733. The price of bitcoin in Kuna increased overnight after Russian President Vladimir Putin announced a “special military operation” to “demilitarise and de-Nazify Ukraine.”
Following a severe Thursday selloff triggered by news of Russia’s military incursion, the market is showing signs of recovery on Friday, with Terra leading the way with an 18 percent gain.
It’s a wrap for this story.