• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
No Result
View All Result
NewsBTC
No Result
View All Result
crypto market
Nexo Logo

Crypto Market Bleeds As Missiles Rain Down On Ukraine

Jet Encila by Jet Encila
4 months ago
in Cryptocurrency news, In Depth
Reading Time: 2 mins read
Advertisement

On the heels of Ukraine’s economic troubles, Bitcoin and Ethereum have taken a pounding in the crypto market.

According to multiple news reports Thursday, around two dozen Russian cruise missiles have hit specific targets in two cities in Ukraine, including its capital, Kyiv.

Russia’s attack undoubtedly is the cause of the current tremor shaking the world’s crypto and stock markets.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

In the previous 24 hours, the crypto market was valued at $1.66 trillion, down $1.4 trillion from the $3.01 trillion it registered in November as transaction volumes plunged.

Stablecoins accounted for $72.07 billion in total volume during the previous 24 hours, while the total volume of the DeFi space was $12.87 billion.

Related Reading | Bearish Signal: Ethereum Exchange Balances Touch 3-Month High

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Crypto Market Hemorrhages

The price of Bitcoin as of this writing has plunged to $34,852.90, down 6.48%, while the price of Ethereum is at $2,343.16, down 12.02%.

Coins such as Cardano lost 10.88% of their value, and Avalanche (AVAX) was down 12.27%.

As of yesterday, Polkadot (DOT) price dropped by 7.26%, while Litecoin (LTC) shed 7.98%, Memecoin Shiba Inu (SHIB) fell 7.28%, and Dogecoin (DOGE) retreated by 9.88%.

BTC total market cap at $667.125 billion in the daily chart | Source: TradingView.com

Wrapped Bitcoin Supply Stagnant

According to research from cryptocurrency financial intelligence service CoinMetrics this week, Wrapped Bitcoin’s supply increase has stalled since December of last year.

Ethereum tokens backed by Bitcoin are known as “wrapped bitcoins.” BitGo’s multi-signature wallet holds all BTC.

Wrapped Bitcoin accounts for around 1.4% of the entire Bitcoin supply of over 19 million units.

Decentralized exchanges and lending protocols are employing 66% of the 263,000-plus tokens locked up in smart contracts.

Between January and December of 2021, the number of WBTC in circulation more than quadrupled but has since remained stable at about 260,000 units.

Related Reading | TA: Bitcoin Recovery Halts, Technicals Suggest Fresh Decline To $36K

DeFi Industry Not Spared In Crypto Market Onslaught

The DeFi industry is seeing a similar trend. The total wealth locked in decentralized finance protocols had dropped below $200 billion, down from about $251 billion on December 27, 2021.

Crypto Crisis Worsens as Russia Invades Ukraine

Russian President Vladimir Putin said the operation is in reaction to Ukraine’s alleged threats in a live television speech.

According to Putin, Russia has no intention of attacking Ukraine, but he did.

The World Reacts In Anger

An assault on Ukrainian cities that U.S. President Joe Biden characterized as “unprovoked and unwarranted” elicited condemnations around the world.

Russia’s invasion on Ukraine has not only jolted the broader crypto market, but the global financial markets as well.

Meanwhile, in the face of the ongoing Ukrainian crisis, cryptocurrency has failed to act as a substitute for gold as a safe-haven investment option, some analysts said.

Since July 2020, gold has traded at some of its best levels since Russia’s attack on Ukraine.

Featured image from Blockworks, chart form TradingView.com
Tags: bitcoincrypto marketrussiaukraine
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Jet Encila

Jet Encila

Freelance writing is Jet's other cup of tea. When not on his computer, he unwinds with a bottle of beer and laughs with his son over cartoons. Other than that, he's just like everybody else who wants to be happy with their life.

Related Posts

World Of Women, screenshot from the website

Blue Chip NFTs 101: The World Of Women Collection, Including And Conquering

2 hours ago
crypto bear

Leading Crypto Exchanges See Negative Funding Rates, Have The Bears Taken Over?

4 hours ago
bitcoin

Why Bitcoin Could Return To $28,000, But By The End Of 2022

5 hours ago
$15k Possible Bottom For Bitcoin? “Delta Cap” Says So

$15k Possible Bottom For Bitcoin? “Delta Cap” Says So

8 hours ago
bitcoin bear

New Bitcoin Record Paints Incredibly Bearish Picture As BTC Struggles At $19,000

10 hours ago
Bitcoin

Why Bitcoin Could Collapse Another 50%, Says Michael “Big Short” Burry

10 hours ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
BC.Game

BC.Game

Review · Visit
Punt Casino

Punt Casino

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
BC.Game

BC.Game

Review · Visit

Crypto To Add The Best Gains To Your Portfolio For Bull Market: Gnox (GNOX), Cronos (CRO) And NEAR Protocol (NEAR)

July 1, 2022

U Promise Me: The Digital Promise Platform

July 1, 2022

XT.com Lists Land of Fantasy (LOF) With USDT Trading Pair

July 1, 2022

LYOTRADE Launches Crypto Loans—Get USDT and Win Against Volatility

July 1, 2022

Torches Genesis NFT Launching, Win Torchlight NFT to Unlock IDO Allocation

June 30, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.