I’invasion of Ukraine
shakes the whole world. Its impact is already being felt in several areas, including cryptocurrencies
.
At the announcement of the start of the attacks, the prices of crypto-currencies were greatly destabilized and the losses are already counted in the hundreds of billions of dollars.
Cryptocurrency prices plummet
Russia’s attack on Ukraine has hurt cryptocurrency prices. After weeks of tension, Vladimir Putin announced a military operation this Thursday, February 24, which was followed by several strikes in major cities in Ukraine. While NATO statements are still pending, the attacks are already beginning to impact global financial markets, including cryptocurrencies.
Overnight, the price of Bitcoin (BTC) fell by 12.5%, but no cryptocurrency is spared. As of this writing, Ethereum (ETH) has tumbled 12.3%, Ripple’s XRP 11.9%, Cardano’s ADA 15.2%, Dogecoin 15.3% or the Solana SOL of 8.4%. As a result, a total of $167 billion in losses has accumulated in less than 24 hours. This is the lowest level on the market since August 2021, recalls the site Well Crypto, and the numbers continue to melt away over the hours for most virtual currencies. It remains to be seen how the very uncertain situation will evolve and impact prices.
Source: BeinCrypto
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