Crypto Market Overview March 4th | Dex-Trade
BTC is Downtrend Again Due to The Highest Geopolitical Tensions and Nuclear Threat
The concern of large investors has reached a peak due to the invasion of the Russian occupation forces in the Ukrainian city of Energodar and the shelling of the local nuclear power plant, which is the largest in Europe. The attack of the aggressor once again provoked investors to withdraw their deposits from Bitcoin and redirect them to gold, the US dollar and other safe-haven assets. Investments, under the old scheme, are shifting from riskier assets like crypto to more stable ones like bank and other corporate stocks, which stay afloat even when there is a drastic increase in interest rates. Experienced traders are convinced that in times of crisis, even the shares of technology giants can sag significantly, while gold "triumphs" even in the darkest times. Therefore, market experts predict that the current geopolitical climate will worry crypto investors at least until the Ukrainian army manages to repel the attack of the Russian aggressor. Meantime, geopolitical circumstances have already driven BTC down 10% YTD and around 38% from its November ATH last year. A similar situation in the altcoin market too. Crypto Silver is currently trading at $2.729, meaning it has dropped 6.39% in the previous 24 hours, ranging from a low of $2.692.05 to a high of $2.934.50. Solana lost 7.83% per day, and Terra - about 3%.
Crypto-Donors Have Already Donated More Than $63 to Ukraine
In support of Ukraine due to the military invasion of Russian occupation troops, the global crypto community has already donated digital currencies worth more than $63 million. Moreover, large amounts were transferred both in Bitcoin and Ethereum, as well as in a number of other cryptocurrencies, among which our favorite main meme-crypto Dogecoin. According to the company SlowMist, which monitors the security of the blockchains’ ecosystem, the bulk of cryptocurrency donations were transferred to the Ukrainian government. Now these accounts have a total of $38.50 million. These funds will be used to restore the country's infrastructure and provide assistance to those affected by the invasion. Non-governmental organizations, led by the «Come Back Alive» humanitarian foundation, have raised more than $14.9 million. The Decentralized Autonomous Organization of Ukraine (DAO) received $6.4 million in crypto donations, the Unchain Foundation received $2.1 million, and aid organizations AidForUkraine — $1.4 million. The crypto community also financed assistance to refugees from cities destroyed by Russian invaders. Well-wishers also transferred donations in NFTs, and the DAO received about $1.4 million worth of crypto from OnlyFans, a social network known for its adult content.
Russian Tech Giant Yandex Is on The Verge of Default and Is Considering Stock Tokenization
The Russian "answer to Google" — the company Yandex, warned that it could default after the suspension of trading in shares on February 25 on the Moscow Stock Exchange and blocking trading in the company's securities on the NASDAQ OMX Group exchanges. “The current principal amount [for shareholder securities] outstanding is $1.25 billion. In the event that such redemption right was triggered, we would be required to issue a notice within five calendar days informing the holders of the Notes of their redemption rights. The Yandex group as a whole does not currently have sufficient resources to redeem the Notes in full.” — company representatives said. The company's dollar and euro balances now stand at approximately $615 million, well short of the required $1.25 billion. However, it’s unclear whether bondholders would require such a full repayment given the special circumstances. Potentially, this could be avoided by tokenizing the shares, which some of the company's board of directors have already thought about. This could allow shares to be traded 24/7 without interruption. But the result of tokenization may turn out to be unpredictable, since in this case the share itself with all ownership rights will become the actual token, and trading in such assets causes serious suspicions among world regulators.