As the war between Russia and Ukraine worsens, the value of key cryptocurrencies is plummeting. Bitcoin dropped to $36,370 on Tuesday after reaching a high of $44,125 a week earlier, while other prominent digital coins including Ethereum and Solana have all experienced recent price drops. Russian President Vladimir Putin’s announcement that he would launch a military operation in Ukraine sent global markets into a tailspin. On Thursday, Putin declared a military operation in Ukraine, warning that any attempts by other countries to intervene would result in ‘consequences they have never seen.’ Dmytro Kuleba, Ukraine’s foreign minister, tweeted that the country’s larger neighbor had ‘started a full-scale invasion of Ukraine’ and that the country’s towns were being attacked. Vijay Ayyar, vice president of corporate development at Luno, a crypto platform said, “Risk assets continue to be weighed down by the Russia-Ukraine conflict and tensions. This includes Bitcoin and cryptocurrencies which are currently still very much viewed as a high-risk asset class.” Major Drop for Important Altcoins Ether, the cryptocurrency linked to the Ethereum blockchain, fell 10% to $2,373. Meanwhile, Dogecoin was trading at $0.11, down BY over 12%, and Shiba Inu was trading at $0.000022, down nearly 10%. Other coins’ performance suffered as well, with values for Solana, XRP, Terra, Avalanche, Stellar, Cardano, Polygon, and Polkadot falling by 8-15%. ...
