Crypto Market Overview February 26th | Dex-Trade
Crypto Market Overview – February 26th, 2022
Introduction of Russian Occupation Troops into Ukraine: The Reaction of The Global Crypto Community and The Situation Around Digital Asset Market
On February 23, RF President Putin finally lost his mind and ordered an artillery attack on Ukrainian cities, simultaneously introducing ground troops into the country. The troops of Ukraine continue to take a hit, and the government of the country, together with volunteer and humanitarian organizations, as well as the inhabitants of the country, managed to draw public attention to the hostilities. To date, literally the whole world, with the exception of isolated tyrannies, has joined the protest against the actions of the aggressor country. Naturally, these events could not but affect the digital asset market, so today we have prepared some news about the war and its impact on the crypto community.
Crypto Becomes a Key Tool for Helping Ukraine
The Washington Post wrote yesterday that the war between RF and Ukraine has actually become the most significant military conflict in the world since the Second World War. And it’s hard to disagree with them, since Putin’s open aggression literally rallied the whole world around Ukraine. Moreover, this event is already being called “the world’s first cryptocurrency war,” since volunteers donate large amounts of digital assets to the addresses of non-governmental humanitarian organizations in the country. We are talking about millions of dollars from anonymous organizations and individuals. According to OKLink, the official Ukrainian address belonging to Come Back Alive, which is used to accept Bitcoin donations, has already received 136.47 BTC (about $5 million). At the same time, citizens of the country are increasingly switching to Bitcoin, as banking systems sometimes fail. History repeats itself: Twenty years ago, in a conflict zone, gold could be exchanged for goods. Today, crypto is in its place. Meanwhile, Ethereum founder Vitalik Buterin, in his native Russian, tweeted that he condemned his country's government for aggression. And the CEO of the FTX cryptocurrency exchange, Sam Bankman-Fried, gave away $25 to every Ukrainian who trades on the platform.
Changpeng Zhao Takes a Neutral Stance on The War in Ukraine
The CEO of the world's largest crypto exchange said he does not adhere to either side of the conflict. He also added that Binance management contacted the Ukrainian branch of the company and made sure that it was working as usual. It seems that Binance deliberately excludes participation in trends in order to maintain credibility in conservative investor circles. But this step is rather doubtful in the long term, since “trends rule the world”, which has been repeatedly proven by such giants as TikTok, Instagram, etc. However, CZ has been following the war in Ukraine and appears to be counting the losses as some $197 million in Bitcoin has been liquidated in the last 24 hours alone. However, massive BTC sales have almost no effect on the asset price, which ranges from $38,000 to $39,400.
Crypto.com and Blockchain.com Join in Helping Ukraine
On February 26, Crypto.com, a large crypto exchange, announced that it had donated $1 million to the Red Cross in the United States, which will be sent to the organization's humanitarian mission in Ukraine. At the same time, the CEO of the marketplace, Chris Marszalek, wrote: “Our thoughts are with the people of Ukraine and innocent bystanders in the ongoing conflict. We urge our community to do what they can to support humanitarian efforts.” And the CEO and co-founder of the crypto platform, Blockchain.com, Peter Smith tweeted that all fees on the platform for trading and exchanging cryptocurrency for Ukrainian users have already been cancelled. And we will continue to monitor the changes in the crypto community against the background of the military aggression of the Russian Federation towards Ukraine. Take care of yourself!