The price of Tether’s USDT stablecoin soared to 36.97 Ukrainian hryvnias (UAH) ($1.23) on Ukraine’s Kuna exchange on Thursday.
The rise in Tether’s USDT stablecoin Kuna exchange was due to the ongoing Russian invasion of Ukraine.
In the past 24 hours, the total trading volume of all cryptos on the exchange amounted to about $4.4 million. While mid-market rates from foreign exchange data provider XE indicated that the UAH currency had only surged to a maximum of 29.89 per U.S. dollar.
USDT is theoretically pegged as one-to-one with the U.S. dollar.
From the past recent hours, the UAH/USDT trading pair has been …