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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.
https://twitter.com/Ukraine/status/1497594592438497282 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.