Russia’s military has commenced a military assault in Ukraine, as bomb explosions have been reported in various cities around the country, including Kyviv. Due to this, the stock market and other exchange markets have fallen drastically.
After Vladimir Putin proclaimed on live tv that Russian troops would orchestrate a “special combat operation” inside Ukraine, cryptocurrency and financial markets worldwide crashed.
As the day started in Ukraine, Russian warships fired shots at different areas around the nation, including the state’s capital, Kyviv, and Kharkiv suburb.
As reported by Cointelegraph Markets Pro, the trading price of BTC (Bitcoin) has decreased by about 7.25% to $35,000 presently. Meanwhile, XRP (Ripple) and ETH (Ethereum) fell 9.24% and 9.48%, respectively. Total market valuation of virtual currencies has slumped by over 8.25% to approximately $1.6 trillion.
The world’s largest financial indexes have recorded increased volatility, as the DJI Average (Dow Jone Industrial) and S&P 500 (GSPC) falling about 2% in less the past 24 hours.
Creator Of Ether Comments On The Situation
Vitalik, the creator of Ether, who was born in Kolomna, Russia, where he spent 6 years of his childhood tweeted in Russian dialect stating (as shown in a translated version) he is:
“Putin’s reckless choice to abandon a solution to the Ukraine problem in favor of war has me saddened. It is a criminal offense against humanity and all that it stands for. Even though I know there won’t be any, I genuinely want to pray everyone is well. Ukraine is in our thoughts.” “Reminder: Ethereum may be neutral, although I’m not,” he later added in English.
Очень расстроен решением Путина отказаться от возможности мирного решения спора с Украиной и вместо этого начать войну. Это преступление против украинского и русского народа.
Хочу желать всем безопасности, хотя знаю, что не какой безопасности не будет.
Слава Украине.
— vitalik.eth (@VitalikButerin) February 24, 2022
Members Of The Crypto Community React
According to Altcoin Sherpa, a staff of Atlas DEX, the attention must be on the individuals involved, not at all the impact on markets. Will Clement, a Lead Analyst, working with BlockWare, a crypto startup into mining, tweeted: “Our prayers are with Ukraine.”
In reaction to the steps taken by Russia, the cost of crude oil has risen to about $99.50. Cryptocurrency investor and podcast host Anthony Pompliano stated that “since Russia is now the third-largest oil producer globally, the repercussions of this crisis will be felt internationally.”
Other countries have reacted to the recent airstrip by Russia, with the United States of America taking sides with Ukraine and ordering Russia to stand down. This present situation is one of those times when significant events affect the market climate.
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