USDT trades as low as $1.26 in Ukraine amid intense hostilities
Tether’s stablecoin USDT traded $1 above its close on exchanges trading the Ukrainian hryvnia (UAH) today.
USDT is trading above the close level in Ukraine
On the famous Kuna exchange of Ukraine, the USDT/UAH pair temporarily rose to UAH 36.9, which is equal to USD 1.26. Since then, the price of the trading pair has fallen to 32.03 UAH ($1.07).
Source: TradingView; Kuna.io
The same premium can also be seen on Binance and Exmo, where USDT/UAH pairs are currently around 32 UAH ($1.07).
These rates apply only to the USDT/UAH pair. However, a lower premium applies to other trading pairs: Kuna’s USDT/USD pair is priced at $1.03, which is close to the stablecoin’s $1 base.
The premium does not apply to Russian Ruble or USDC currency pairs, both of which are close to $1. Kuna has a total of 42 Tether trading pairs.
This spread appears only on the Ukrainian markets. On US exchanges, Tether pairs are very close to $1 as intended.
This bounty was seen around the same time that Russia declared war on Ukraine. Tensions have devalued the Ukrainian hryvnia over the past week. Representative Kuna said that Tether’s domestic supply of stablecoin USDT is also limited. Both factors appear to have led to the discrepancy seen over the past two days.
Despite the popularity of kuna in Ukraine, kuna is a rather small exchange. The exchange’s 24-hour trading volume is just $4.8 million, while the top US exchanges process billions of dollars a day. Kuna has only 400,000 active accounts.
The conflict between Russia and Ukraine has also led to many shared economic constraints. Ukraine has enacted a ban on issuing digital cash in a bid to curb the outflow of funds. Various countries have now imposed sanctions on Russia.
Join CoinCu Telegram to keep track of news:Â https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Author
Market
USDT trades as low as $1.26 in Ukraine amid intense hostilities
Tether’s stablecoin USDT traded $1 above its close on exchanges trading the Ukrainian hryvnia (UAH) today.
USDT is trading above the close level in Ukraine
On the famous Kuna exchange of Ukraine, the USDT/UAH pair temporarily rose to UAH 36.9, which is equal to USD 1.26. Since then, the price of the trading pair has fallen to 32.03 UAH ($1.07).
Source: TradingView; Kuna.io
The same premium can also be seen on Binance and Exmo, where USDT/UAH pairs are currently around 32 UAH ($1.07).
These rates apply only to the USDT/UAH pair. However, a lower premium applies to other trading pairs: Kuna’s USDT/USD pair is priced at $1.03, which is close to the stablecoin’s $1 base.
The premium does not apply to Russian Ruble or USDC currency pairs, both of which are close to $1. Kuna has a total of 42 Tether trading pairs.
This spread appears only on the Ukrainian markets. On US exchanges, Tether pairs are very close to $1 as intended.
This bounty was seen around the same time that Russia declared war on Ukraine. Tensions have devalued the Ukrainian hryvnia over the past week. Representative Kuna said that Tether’s domestic supply of stablecoin USDT is also limited. Both factors appear to have led to the discrepancy seen over the past two days.
Despite the popularity of kuna in Ukraine, kuna is a rather small exchange. The exchange’s 24-hour trading volume is just $4.8 million, while the top US exchanges process billions of dollars a day. Kuna has only 400,000 active accounts.
The conflict between Russia and Ukraine has also led to many shared economic constraints. Ukraine has enacted a ban on issuing digital cash in a bid to curb the outflow of funds. Various countries have now imposed sanctions on Russia.
Join CoinCu Telegram to keep track of news:Â https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Other Posts
Related Posts
Latest
Why Qubetics, NEAR Protocol, and IMX Are Dominating Crypto: The Best Altcoins to Join Today for Game-Changing ReturnsÂ
Bonk’s ICO Was Just the Start: Why BTFD Coin’s Stage 7 Price Rollback Is Your Second Shot at Crypto Glory
Decoding BDAG’s AMA: A Blueprint for Scalable Blockchain and Enhanced Community Ties
Press Release
Why Qubetics, NEAR Protocol, and IMX Are Dominating Crypto: The Best Altcoins to Join Today for Game-Changing ReturnsÂ
Bonk’s ICO Was Just the Start: Why BTFD Coin’s Stage 7 Price Rollback Is Your Second Shot at Crypto Glory
