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Bitcoin demand booms in Ukraine and Russia

The Russian invasion of Ukraine has driven demand for cryptocurrencies in both countries, helping boost the price of bitcoin.

Bitcoin has been trading at a premium against the Ukrainian hryvnia on a number of exchanges, both globally and locally, a sign of high demand. On Binance, the largest exchange in the world, bitcoin was trading for the equivalent of $45,894 in hryvnia terms. On Kuna, the largest exchange in Ukraine, it was at $46,847, and had traded as high as $51,240.

In U.S. markets, bitcoin was recently trading near $44,000 Tuesday night, up more than 17% since Sunday evening, according to data from CoinDesk.  

On Binance, there has been a surge in trading volume of bitcoin in exchange for rubles since just before Russia’s invasion began. Between Feb. 20 and 28, about 1,792 bitcoins exchanged hands in the ruble/bitcoin trading pair, compared with only 522 in the nine days before that, according to data on Binance.

For more news – howtofinance.online

Harish Yadav

Harish Yadav is the regular reader of different newspapers and articles and writes about Financing and Investments. He also often writes for breaking news.

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