The Ukrainian bitcoin volume continues to grow as war ravages

Many have been paying attention to the bitcoin volumes on both sides of the war. Ukrainian volumes continue growing while trading activity has collapsed in Russia.
Source: Tradingview (Binance)

The volume of Binance's bitcoin-hryvnia pair surged when Russia invaded Ukraine, and it has just kept increasing. It has seen much higher growth during the past month than the BTCUSD spot volume.

The increase could be caused by a growing number of Ukrainians believing Bitcoin to be a safer store-of-value than the vulnerable Ukrainian banking system. Still, these volumes are very low compared to bitcoin's overall spot volume.

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