Cryptoverse: Bitcoin gains conflict currency credentials


FILE PHOTO: A representation of virtual currency Bitcoin is seen in front of a stock graph in this illustration taken March 15, 2021. REUTERS/Dado Ruvic/Illustration/File Photo/File Photo

BENGALURU: Bitcoin has leapt since Russia's invasion of Ukraine, bolstered by people in those countries looking to store and move money in anonymous and decentralised crypto.

Bitcoin trading denominated in the Russian rouble went into overdrive when the invasion began on Thursday, with daily volumes rising 259% from a day earlier to 1.3 billion rouble ($13.1 million), according to data from CryptoCompare.

In Ukraine, meanwhile, crypto exchange Kuna saw its daily trading volume more than treble to 150 million hryvnias ($5 million).

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Bitcoin , stablecoin , Russian rouble

   

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