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24 Feb 2022

Russia vs. Ukraine Situation Makes Crypto Market Plummet; BTC Sinks Further

Russia vs. Ukraine Situation Makes Crypto Market Plummet; BTC Sinks Further

The Index Today

Russia invades Ukraine in the early hours of Thursday, and because of this Bitcoin and other altcoins’ prices plummet. Vitalik Buterin and other crypto elites speak against Putin’s action.

Tensions rising globally, due to this, the cryptocurrency world is also on the verge of hitting the lowest ever seen in years. The subsequent invasion of Russia in Ukraine this early morning has impacted Bitcoin and other altcoins heavily.

Bitcoin, at the time of writing 02:30AM ET, went further downhill to trade at $34,780, while Ethereum’s price took a turn for the worst as it is now $2,356 per unity. In fact, a look at the CoinMarketCap chart is almost disheartening to crypto traders.

CoinQuora mentioned in their reports that today has been gloomy for many world leaders, individuals, and crypto enthusiasts since the news of Russia bombing some parts of Ukraine. Taking to their Twitter accounts, many crypto elites registered their disappointment with Putin.

The Russian-born co-founder of Ethereum, Vitalik Buterin asserted that he is “very upset with Putin’s decision to abandon the possibility of a peaceful solution.” He adds that Putin’s resolution to go to war instead of resolving the situation is “a crime against the Ukrainian and the Russian people.” Finally, he concludes with “Glory to Ukraine.”