Ukraine Top Crypto Exchange Volume Spikes 200%

Ukraine saw a surging interest in cryptocurrency after Russia wages war against the country. The local currency hryvnia fell to an all-time low amid the concerning geopolitical situation.

Kuna, the top cryptocurrency exchange in Ukraine, observed a swift increase in trading volume for bitcoin and altcoins. On February 21, the total volume at Kuna was recorded below $1 Million. Whereas, only three days later on February 24th, the volume reached $4 Million.

Impact of war on Fiat Currencies:

The war between Russia and Ukraine had an impact on the local currencies of both countries. Russian ruble lost significant value in the days leading up to the Ukrainian invasion. Ukrainian Hryvnia also became 30 per dollar.

Ukraine legalized cryptocurrencies in the country just a few weeks before the war. People have shown much interest in Crypto which lead to the ratification of the currency as a legal tender. Once the hryvnia went into hot waters, the populous turned to Bitcoin.

Also Read: Bitcoin Drops With Russia Sprinting for War

Bitcoin and Altcoins serve as alternatives to local currencies. The decentralized nature of bitcoin makes it more viable during crisis situations. You don’t need banks or any other physical entity to issue your money.

Crypto trading volume on Ukrainian crypto exchanged jumped 200% in the past 2 days following the war. However, the bitcoin price has remained fluctuating.

Originally published at




AutoTrading Strategies is a consultancy company built by crypto traders and trading software developers.

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

Introduction of SynFutures Decentralized Option Agreement.

The Wynn Games Eco team will launch the game Wynn Rust on their platform.

The Crypto Farm Diary: Focus on Your DRIP Instead of Fiat!

April 2020 Report & Analysis

📣 OFFICIAL: Mogwar Private Sale is LIVE now on KingdomStarter🔥🔥

Bytom Weekly Report (2021.10.11–2021.10.15)

DeFi Of Thrones — Zenfuse vs Orion Protocol

CCAI ZENDIT: Announcement + Participation & Pool Details

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
AutoTrading Strategies

AutoTrading Strategies

AutoTrading Strategies is a consultancy company built by crypto traders and trading software developers.

More from Medium

Staking Stablecoins may be the next generation of finance and could be the most significant…

Cryptonite’s Legend

Inflating profits, deflating wallets.

OlympusDAO’s OHM: The Bomb hidden behind complexity