Crypto market capitalization crossed the $2 trillion mark for the first time in two weeks, helped largely by speculation over growing adoption due to the Russia-Ukraine conflict. The market has now recouped its losses made during initial jitters over the invasion. Russia-Ukraine Conflict Boosts Crypto Adoption Preliminary talks between Russia and Ukraine, although largely inconclusive,

The post Just-In: Crypto Market Cap Crosses $2 Trillion As Russia-Ukraine Conflict Boosts Adoption appeared first on CoinGape.

Amid the conflict in Ukraine with Russia, bitcoin trade volumes tied to Russian ruble pairs have surged in recent days. Metrics recorded by the crypto analytics provider Kaiko indicate that ruble (RUB)-denominated bitcoin volume reached close to 1.5 billion rubles four days ago, on February 24. Data also shows that bitcoin-ruble pairs saw a significant […]

Tether’s USDT stablecoin is currently trading at a 5% premium on trading pairs involving the hryvnia (UAH) on Ukraine’s popular crypto exchange Kuna. USDT Trading at Premium On Ukrainian Crypto Exchange On the popular Ukrainian exchange, Kuna, USDT/UAH trading pair is currently trading at 33.4 UAH, equivalent to $1.12. The Russian-Ukraine tensions have devalued the Ukrainian hryvnia over the past week. In fact, the representatives of Kuna even suggested that there has been a limited supply of Tether’s USDT stablecoin in the country which has led to such high premiums. Despite Kuna’s prominence within Ukraine, it’s a fairly small exchange with only 400,000 active accounts. The exchange only handles $4.8 million of 24-hour trading volume whereas leading U.S. exchanges handle billions of dollars per day. Ukraine Gets Millions in Crypto Donations On Saturday, the official Twitter account of Ukraine had called for crypto donations “Stand with the people of Ukraine. Now accepting cryptocurrency donations. Bitcoin, Ethereum, and USDT,” the tweet read. Stand with the people of Ukraine. Now accepting cryptocurrency donations. Bitcoin, Ethereum and USDT. BTC – 357a3So9CbsNfBBgFYACGvxxS6tMaDoa1P ETH and USDT (ERC-20) – 0x165CD37b4C644C2921454429E7F9358d18A45e14 — Ukraine / Україна (@Ukraine) February 26, 2022 The Ukrainian government and non-governmental organizations (NGOs) together have raised over $14.2 million in anonymous crypto donations till Sunday, according to blockchain analysis company Elliptic. In fact, a single donor sent $3 million in Bitcoin (BTC) in a single transaction.

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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 […]

Bitcoin investors have de-risked as global macro headwinds increase. In particular, traders eye the proposed Fed rate hikes in March, opting for protective insurance over speculative calls.