As of September 2026, 1,101 active tobacco industry companies were registered in Ukraine, according to data from the Unified State Register cited by Opendatabot.
During the first eight months of 2026, 39 new companies were registered, while eight enterprises ceased operations. Thus, the net increase amounted to 31 companies.
During the same period last year, the number of companies increased by 35.
Despite the continued growth, the current pace remains significantly below the pre-war level. In 2021, the net increase in the number of enterprises in the tobacco sector amounted to 82 companies.
The industry’s financial indicators also demonstrate growth in turnover. The 41 companies that provided comparable financial statements for the first half of 2025 and 2026 increased their combined revenue by 10% to UAH 198.18 billion.
At the same time, net profit decreased by 8% and amounted to UAH 6.5 billion.
Meanwhile, the share of profitable enterprises increased. In the first half of 2026, 29 out of 41 companies, or 71%, reported a positive financial result, compared with 63% a year earlier.
In total, 50 companies in the industry submitted financial statements for the first half of the current year. A year earlier, there were 13 more such enterprises.
Source: Opendatabot.
According to Experts Club, the global oil market has entered a phase of a major fuel crisis following more than half a year of declining commercial stocks of crude oil and petroleum products, while the options for further drawing on strategic reserves are becoming increasingly limited, The Wall Street Journal reports, citing executives from the largest U.S. oil companies.
As the publication notes, U.S. oil companies have been warning for several months that prolonged restrictions on shipments through the Strait of Hormuz would ultimately lead to a fuel shortage. Now, according to their assessment, that moment has arrived.
Global commercial fuel stocks have been declining for more than six months. At the same time, governments have already been actively drawing on strategic reserves to keep prices in check, so the volume of available additional supply has dropped significantly. The WSJ emphasizes that this does not mean government reserves have physically run out, but rather that the scope for new large-scale interventions is becoming significantly narrower.
Chevron CEO Mike Wirth stated as early as September 11 that the reserves and other mechanisms that had kept oil prices from rising for several months “have largely run their course.” According to him, global commercial oil reserves were at high levels at the beginning of the year, but by September they had declined significantly.
The attack on the East-West oil pipeline in Saudi Arabia—which allows oil to be exported bypassing the Strait of Hormuz—dealt an additional blow to the market. Analysts estimate that after the pipeline was shut down, at least 2.5 million barrels of oil per day disappeared from the market.
The International Energy Agency (IEA) also confirms these supply issues. The agency describes the situation as the largest disruption to oil supplies in the history of the global market. Before the crisis, approximately 15 million barrels of crude oil and another 5 million barrels of petroleum products passed through the Strait of Hormuz daily, which together accounted for about 20% of global oil consumption.
To stabilize the market, IEA member countries agreed back in March to release 400 million barrels of oil from emergency reserves—the largest such release in the agency’s history. However, as the crisis drags on, this reserve mechanism is becoming less effective.
According to the latest available IEA data, from the start of the Middle East crisis through the end of July alone, global observed oil stocks fell by approximately 410 million barrels, or an average of 2.7 million barrels per day. Total stocks fell below 7.9 billion barrels for the first time since April 2025.
The situation is particularly tense in the diesel and jet fuel markets. The IEA notes a sharp decline in international shipments of petroleum products and a record increase in refining margins. Diesel exports from Russia, the Middle East, and Asia were approximately 1.3 million barrels per day lower than last year’s level, accounting for about one-fifth of global seaborne diesel trade.
An additional risk stems from China. In previous months, the country had cut imports and partially drawn down its own stockpiles, helping to curb global demand. However, by August, Chinese refineries were already processing more crude oil than was supplied by current imports and domestic production, prompting the country to draw down its stockpiles more aggressively.
Against this backdrop, Brent crude is once again trading above $100 per barrel. Following a new attack on Saudi infrastructure, Brent prices rose to approximately $107.5 per barrel on September 15, while WTI prices climbed above $103.
The IEA identifies the restoration of full-scale oil and petroleum product shipments through the Strait of Hormuz as the key factor capable of quickly stabilizing the market. Without this, the global economy will remain vulnerable to new disruptions, as a significant portion of the reserves that helped the world weather the first months of the crisis has already been depleted.
Source: The Wall Street Journal article “Oil Executives Say the Great Fuel Crisis Is Here” dated September 15, 2026.
Despite a sharp recovery in 2025 and growth in indicators in the second quarter of 2026, Ukraine’s new housing construction market remains significantly below the pre-war level.
According to the Experts Club information and analytical center, based on data from the State Statistics Service, the total area of new housing construction in 2025 amounted to 5.8 million sq. m, increasing by 49.4% compared with 2024.
However, compared with 2021, when the figure reached 12.7 million sq. m, the volume remained approximately 54% lower, that is, more than twice as low.
In 2022, the area of new construction amounted to 6.6 million sq. m, in 2023 — 4.2 million sq. m, and in 2024 — 3.9 million sq. m.
Thus, the lowest figure for the period under review was recorded in 2024, after which the market began to recover noticeably in 2025.
In the second quarter of 2026, this process continued: the area of residential buildings declared for the start of construction increased by 6.1% year on year — to 1.65 million sq. m.
At the same time, the sustainability of the recovery remains ambiguous. For the entire first half of the year, the area of new apartment building construction was 2.3% lower than a year earlier, while the number of declared apartments decreased by 6%.
At the same time, construction costs continue to rise rapidly. In July 2026, construction prices were 23.7% higher than in July of the previous year.
Housing prices themselves are also rising: in the second quarter of 2026, they increased by 19.6% year on year and by 3.8% compared with the first quarter.
Thus, the Ukrainian market is simultaneously facing a recovery in construction activity, high inflation in construction costs, and a significant lag behind the supply volumes typical of the period before the full-scale war.
According to Fixygen, Bitcoin’s volatility remains at historically low levels, despite significant fluctuations in flows into cryptocurrency ETFs, shifting expectations regarding Fed interest rates, and sharp price swings on individual trading days.
An analysis by Glassnode shows that one of the most important factors behind the decline in monthly realized volatility has been the increase in the share of Bitcoin held by long-term holders. This metric better explains changes in volatility than the cryptocurrency’s market capitalization, open interest in derivatives, funding rates, or trading volume, according to The Block.
In other words, it is no longer just the market size that matters, but also the structure of BTC holders.
Bitcoin, which previously circulated largely among speculative investors and traders, is increasingly concentrated among long-term holders, ETFs, companies, and other participants who trade much less frequently.
This may reduce the number of coins constantly involved in trading and decrease the market’s sensitivity to short-term fluctuations in demand.
At the same time, more than 71% of the total Bitcoin supply is currently in profit, according to data cited by Bitfinex analysts.
This figure is approaching the historical average of approximately 74.7%. Analysts note that a sustained move above this level in previous cycles has often coincided with the market’s transition from a bear market to a more sustained bull market.
At the same time, the high proportion of coins in profit has a dual effect. On the one hand, it reflects an improvement in the financial situation of Bitcoin holders. On the other hand, it creates a potential supply that could enter the market in the event of further price increases, as investors begin to take profits.
On September 12, Bitcoin is trading around $77,000, remaining well below its 2025 all-time high.
At the same time, the market infrastructure itself is changing. Spot ETFs have become one of the largest channels of institutional demand, public companies are building multibillion-dollar Bitcoin reserves, and the share of long-term holdings is increasing.
This is gradually bringing Bitcoin closer to traditional financial assets in terms of investor structure, although the cryptocurrency’s absolute volatility remains significantly higher than that of most major stock indices or government bonds.
According to Bitfinex analysts, the current situation is, for now, more consistent with consolidation with upside potential than with a confirmed new bullish breakout.
Thus, the shift in Bitcoin’s ownership structure may gradually alter the familiar pattern of cryptocurrency cycles. If an increasing portion of the supply remains held by ETFs, corporations, and long-term investors, future cycles may become less volatile, although it is still too early to completely rule out significant price fluctuations for Bitcoin.
According to Fixygen, there are still no signs of a broad shift of capital from Bitcoin to alternative cryptocurrencies, despite periodic rallies in individual tokens and Ethereum’s strengthening.
According to CoinMarketCap data as of September 12, 2026, the Altcoin Season Index stands at about 40 points out of 100, which is significantly below the 75-point threshold at which the market is considered to have entered a full-fledged altseason. Bitcoin’s dominance stands at about 58.7%, while Ethereum’s is 11.6%.
CoinMarketCap defines altseason as a period when at least 75% of the top 100 cryptocurrencies—excluding stablecoins and certain asset-backed tokens—have outperformed Bitcoin over the past 90 days.
BlockchainCenter’s alternative index also does not yet indicate an altseason: its value stands at around 33 points, while the required threshold is 75.
According to CoinGecko, the total market capitalization of the cryptocurrency market stands at approximately $2.76 trillion. Bitcoin remains the largest asset with a market cap of about $1.55 trillion.
Bitcoin’s high market share indicates that a significant portion of new capital continues to be concentrated in the largest and most liquid crypto asset. This trend is driven by U.S. spot Bitcoin ETFs, corporate BTC purchases, and investor caution regarding less liquid tokens.
However, this situation differs from the classic cryptocurrency cycles of previous years, when, following strong growth in Bitcoin, capital would sequentially flow first into Ethereum, then into major altcoins, and finally into more speculative assets with smaller market capitalizations.
Certain altcoins have periodically outperformed Bitcoin significantly in the current cycle as well; however, so far these have been isolated instances rather than broad-based growth across the entire segment.
Ethereum has strengthened its position in recent months: its market share has grown from about 9% three months ago to around 11%, but this is not yet enough to trigger a full-scale rotation of capital away from Bitcoin.
The total market capitalization of the global stablecoin market has reached approximately $305.4 billion, continuing to grow amid the widespread adoption of digital dollars in cryptocurrency payments, trading, and decentralized finance, according to Fixygen.
According to DefiLlama, as of September 10, 2026, the supply of stablecoins has increased by approximately $1.69 billion, or 0.56%, over the past seven days, and by 1.6% over the past 30 days.
Tether (USDT) remains the largest stablecoin with a market capitalization of about $183.4 billion. It accounts for approximately 60% of the entire segment.
In second place is USDC, issued by Circle, with a market capitalization of about $74.5 billion. Over the past month, its supply has increased by approximately 3%.
Thus, the two largest dollar-pegged stablecoins alone control about 84.4% of the entire market.
In third place is Sky Dollar (USDS) with a market capitalization of approximately $6.64 billion, followed by DAI at $4.79 billion and Ethena USDe at approximately $4.44 billion.
USDe has recently shown the most notable growth among major stablecoins: its market capitalization has increased by approximately 13% over the past month.
The growth in stablecoin market capitalization is an important indicator of the state of the cryptocurrency market. Unlike the rise in the value of Bitcoin or Ethereum, an increase in the market capitalization of dollar-pegged tokens largely signifies the emergence of additional nominal volume of digital dollars that can be used for trading, remittances, lending, and other transactions within the cryptoeconomy.
Therefore, the growth in the supply of stablecoins is often viewed as an indicator of increased available liquidity. However, this in itself does not guarantee further growth in Bitcoin or other crypto assets—some of the funds may be used for settlements, international transfers, or held outside of risky assets.
The market structure remains extremely concentrated: USDT accounts for six out of every ten dollars of the segment’s market capitalization, and the gap between Tether and its closest competitor, USDC, exceeds $108 billion.
Stablecoins are digital tokens whose value is typically pegged to traditional currencies, primarily the U.S. dollar. They are one of the main settlement instruments in the cryptocurrency market and, at the same time, are increasingly being used beyond its borders for international payments and money transfers.
Data source: DefiLlama Stablecoins
