Experts of the crypto exchange BloFin noted a significant increase in activity on the part of users from Ukraine, Kazakhstan, Armenia and a number of other countries in the CIS region. This is stated in a release provided by Incrypted.

As noted by the representatives of the platform, the growth of interest in crypto-assets continues to grow against the background of macroeconomic instability. In this regard, users from the mentioned regions consider cryptocurrencies as a tool for capital protection, circumventing currency restrictions and diversifying savings.

“We see that in conditions of devaluation and limited access to traditional investment markets, cryptocurrency is becoming a real financial cushion for many. At BloFin, we aim to offer tools that allow you to not only preserve capital but also earn – from spot and futures trading to structured fixed-income products,” the company said.

Specifically, according to the release, one in three Eastern European users use cryptoassets as a “backup wallet.” This is an instrument that should be liquid, stable and available at any moment. This, in turn, creates demand for convenient solutions within one ecosystem – without third-party exchanges, risks and delays, BloFin said.

For such users, the exchange offers a single trading account with sub-account support, advanced analytics, AI indicators and low commissions, including favorable conditions on the futures market. The organization also noted an increase in demand for copy-trading and passive strategies.

In the release, the exchange cites a Chainalysis report. According to it, for the period from July 2023 to June 2024, the countries of Eastern Europe received cryptoassets worth more than $499 billion, which is 11% of the global volume. DeFi protocols accounted for about a third of the transactions.

BloFin believes that the growing interest from people in the region is not a temporary phenomenon, but a long-term shift in financial behavior.

“We are working to make access to crypto instruments as convenient and transparent as possible, while maintaining the institutional quality of the infrastructure. Eastern Europe is one of our priorities, and we plan to increase our local presence,” the company emphasized.