Many crypto market participants pay attention to the tensions between Ukraine and Russia. co-founder of Ethereum Vitalic Buterinestated that it has no connection whatsoever with Ethereum’s position in the ongoing crisis.
“Ethereum is neutral”
Buterin, a Russian citizen, tweeted today. Ethereum He stated that while his blockchain is neutral, he is not.
Reminder: Ethereum is neutral, but I am not.
— vitalik.eth (@VitalikButerin) February 24, 2022
Buterin also condemned Russia’s actions and supported Ukraine. Buterin stated in a tweet in Russian that he was annoyed by Vladimir Putin’s decision to abandon the peaceful settlement of the conflict. He added that the move would only result in a situation where no one would be safe.
“I am very saddened by Putin’s choice of war rather than peace over the conflict with Ukraine. This step is a crime against the peoples of both Russia and Ukraine. Even though I know it won’t happen, I wish everyone a safe time.”
Buterin took a loud stance on the situation. Earlier this month, he warned that an attack on Ukraine could only harm Russia, Ukraine and humanity.
Russia’s war against Ukraine shakes markets
Global markets reacted harshly to Russia’s announcement that it would organize “special military operations” in Ukraine. The decline in the market escalated after the news that Russia started to organize attacks across Ukraine.
Significant value has been wiped out from the cryptocurrency market, which has fallen by about 7% during the day and is currently worth $1.63 trillion. with crypto currency bitcoin also lost a great deal of value. Bitcoin (BTC) is trading around $36,058, down 6.81% in the last 24 hours.
Ethereum (ETH), on the other hand, is trading around $2,400, down 8.9%. Among other top 10 cryptocurrencies by market cap cardano (ADA) saw the largest percentage of losses, down 13.05%.
Outside of the crypto market, the stock market crashed as oil prices rose. The Guardian reported that Russian stock markets fell to the lowest level since 2016. The report added that the price of oil rose from $60 to over $100 per barrel.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.