Close Menu
    X (Twitter)
    Blockchain Journal
    • News
      • Blockchain News
      • Bitcoin News
      • Ethereum News
      • NFT
      • DeFi News
      • Polkadot News
      • Chainlink News
      • Ripple News
      • Cardano News
      • EOS News
      • Litecoin News
      • Monero News
      • Stellar News
      • Tron News
      • Press Releases
      • Opinion
      • Sponsored
    • Price Analisys
    • Learn Crypto
    • Contact
    • bandera
    Facebook X (Twitter) Instagram
    Blockchain Journal
    Home » The Bombing on the Ukraine Border also hits the markets

    The Bombing on the Ukraine Border also hits the markets

    0
    By subhasish on February 18, 2022 News
    The Bombing on the Ukraine Border also hits the markets
    Share
    Facebook Twitter LinkedIn Pinterest Email

    The cryptocurrency market faces a heavy blow amidst the tensions between Russia and Ukraine reach at an all time high wiping almost $200 billion from the combined $1.9 trillion crypto market over the last week.

    According to CoinMarketCap, Bitcoin (BTC) is hovering around $40,663.86, plummeting almost 6.95% over the last 24 hours. Ethereum (ETH), the second largest token, fell 5.89% with altcoins including BNB, solana, cardano and XRP seeing similar declines. The global crypto market cap was down by 6.56 per cent at $1.86 trillion. The crypto trading volume increased by 25.64 per cent at $87.52 billion. 

    The Global Crypto Market Is In Tumbles

    The Bombing on the Ukraine Border also hits the markets

    Among other major coins, Cardano (ADA) was down by 5.34 per cent at $1.03, Algorand (ALGO), which is known as the Ethereum killer, was also down by 7.37 per cent at $0.9071; its market cap was at $6,030,901,486. Binance Coin (BNB) was down by 5.84 per cent at $403.73, while Solana (SOL) fell 6.53 per cent at $94.17 and Polkadot (DOT) by 7.3 per cent at $18.28. Dogecoin (DOGE) was down by 5.59 per cent at $0.141. Its volume to market cap ratio stands at 0.04123. Rival Shiba Inu (SHIB) was down by 7.28 per cent at $0.00002891. 

    In the DeFi segment, YFI (yearn.finance) was trading with a loss of 4.15 per cent at $22,670.84, while Terra (LUNA) was also down by 9.12 per cent at $50.89. Avalanche (AVAX) was down by 7.53 per cent at $89.58, Uniswap (UNI) lost 7.16 per cent to trade at $10.40, and Aave (AAVE) declined 9.46 per cent to $153.99.

    The global crypto market tanked sharply due to the uncertainty and tension regarding a full-blown war breaking out at any moment between Russia and Ukraine. The bitcoin and crypto price crash also comes alongside a comment made by U.S. president Joe Biden that Russia could invade Ukraine in a matter of days. Biden was quoted saying,

    “We have reason to believe that they are engaged in a false-flag operation to have an excuse to go in. Every indication we have is that they’re prepared to go into Ukraine, attack Ukraine,” 

    The United States is ready to keep engaging in diplomacy, but we are also ready to respond decisively to a Russian attack on Ukraine. pic.twitter.com/fpeUMiOar2

    — President Biden Archived (@POTUS46Archive) February 16, 2022

    Ukraine Legalizes Crypto

    In another development, amidst the turmoil brewing with Russia, Ukraine has also passed a bill to legalize cryptocurrency. According to a report, published by blockchain researcher, Elliptic, Bitcoin donations have soared to Ukrainian volunteer and hacking groups, which back the Ukraine government, as fears of an attack by Russian troops grow. Ukraine Vice Prime Minister Mykhailo Fedorov commented,

    Ukraine is already in top-5 countries on cryptocurrency usage. Today we made one more step forward: Parliament adopted law on virtual assets! This will legalize crypto exchangers and cryptocurrencies, and Ukrainians could protect their assets from possible abuse or fraud.

    — Mykhailo Fedorov (@FedorovMykhailo) February 17, 2022

    “Today we made one more step forward: Parliament adopted law on virtual assets! This will legalize crypto exchangers and cryptocurrencies, and Ukrainians could protect their assets from possible abuse or fraud.”

    BTC cryptocurrencies ETH Featured SOL
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    subhasish
    • X (Twitter)
    • LinkedIn

    Subhasish Barua is a full-time writer at Blockchain Journal. A post-graduate in Marketing and HR, he joined the cryptocurrency space in 2018 and is an fervent believer of financial freedom.

    Related Posts

    Hyperliquid’s USDH stablecoin call sparks fairness and governance debate

    September 5, 20253 Mins Read

    SharpLink to explore staking part of its $3.6 billion ETH treasury on Linea

    September 5, 20253 Mins Read

    Strategy Inc.’s path to the S&P 500 faces committee discretion, extreme volatility, and Bitcoin-dependent results

    September 5, 20253 Mins Read

    Coinbase accelerates toward a majority of AI-generated code amid a global trend

    September 5, 20253 Mins Read

    World Liberty Financial Blocks Justin Sun’s Wallet Amid WLFI Controversy

    September 5, 20253 Mins Read

    SEC bets on a pro-crypto agenda with a series of rulemakings on digital assets

    September 5, 20252 Mins Read

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    © 2025 Blockchain Journal

    Type above and press Enter to search. Press Esc to cancel.

    We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.