Russia-Ukraine conflict affects crypto and stock markets. conflict As global markets took into account the influence of rising tensions between Russia and Ukraine, Bitcoin plummeted nearly 6% today. On Coinmarketcap, the price of Bitcoin dropped 6.47 percent to $36,900. The cryptocurrency market capitalization fell to $694.882 billion today, a decline of 7.76%.
Other cryptocurrencies were also trading in the red today.
Russia-Ukraine conflict on crypto
Ethereum declined 8.05% to $2537, and Dogecoin dropped 10.14% to $0.1259. Stellar’s value fell 12.10%, while Litecoin’s price plummeted 10.74%. Ripple, Uniswap, and Bancor all saw spectacular declines over the weekend. XRP tumbled 14.25% to $0.6847 and Uniswap fell 13.54 percent to $8.40. The decline in cryptocurrencies is consistent with the broader market downturn.
The Russia-Ukraine crisis was keeping investors on edge, and global shares were lower as the situation remained unresolved.
Russia-Ukraine conflict on stock markets
In all the Asian markets, the stock market fell. The Nikkei 225 in Tokyo dropped 1.8 percent to 26,426, while the Hang Seng in Hong Kong declined 3.29 percent to 23,575. Seoul’s Kospi shed 1.69%. The Shanghai Composite index slipped 1.44% to 3,440.
On Monday, the S&P 500 e-mini futures dropped 1.81 percent and the Dow Jones industrial average e-mini futures fell 1.37 percent. The Nasdaq 100 e-mini futures decreased 2.65 percent, while the Dow Jones industrial average e-mini futures lost 1.36%.
Because of Presidents’ Day, U.S stock markets were closed.
Ukraine is a country in Eastern Europe. It is the second-largest country in Europe by size, after Russia, which borders to the east and northeast. The current population of Ukraine is 43,301,680 as of Thursday, February 24, 2022.
Russia-Ukraine conflict summary
The conflict began in February 2014, when Russia and pro-Russian forces attacked Ukraine, primarily over the status of Crimea and parts of the Donbas. The war’s major focus has been on the status of Crimea and other disputed territories that are widely regarded as part of Ukraine by international law.
Russian military buildup on Ukraine’s border has exacerbated tensions between the two countries and strained bilateral ties during 2021-22, with the United States delivering a strong message that an invasion would be met with severe consequences for Russia’s economy.
Despite warnings from the West that the decision might lead to far-reaching punitive measures, Russian President Vladimir Putin on Monday recognized the independence of two separatist regions in eastern Ukraine during an emotional address broadcast on state television, despite Western worries.
“I believe it is necessary to take a long overdue decision, to immediately recognise the independence and sovereignty of the Donetsk People’s Republic and the Lugansk People’s Republic”
– Vladimir Putin
Analysts believe that this could be the start of a larger conflict in Ukraine, and many officials are labeling the action an assault on Ukraine’s independence.
Conflict is nothing new to the Donbas region. For nearly eight years, it has been the scene of a low-intensity conflict between Russian separatists and Ukrainian troops that has resulted in more than 14,000 fatalities. Following the Kremlin’s surprise decision on Monday, concerns have been dramatically amplified. The Ukrainian government in Kyiv claims that the two areas are, in fact, Russian-occupied territories. The self-declared republics have no recognized government except Russia. The Ukrainian administration has refused to communicate with either separatist republic directly.