Although crypto assets had been trending down on Wednesday night they fell even further when Russia invaded Ukraine on Thursday morning.
Yesterday’s tensions in Ukraine led to US stocks falling into freefall. The SPX500 (-22.25%), DJ30(-1.69%), and NASDAQ100 (3.1%) all closed in the red after investors fled for safer-haven assets.
Preliminary GDP data from the fourth quarter 2021 will be released by the BEA at 13:30 GMT. This could cause volatility in the markets.
As Russia attacked Ukraine, oil prices soared to $97 today.
On average, the top 20 most valuable coins lost approximately tenths of their value. Five of the top 10 cryptocurrency coins lost more than 15% in the past 24 hours: Avalanche more than 14%, Cardano more then 15%, Cardano and Ethereum more than 14%, BNB 12% and XRP more that 11%.
Bitcoin was trading below $35,000 at the time of writing. This is a drop of more than 8% in just one day. Dogecoin lost more than 15% outside the top 10.
Outside of the top 20, the worst situation is even more dire. A cryptocurrency’s minimum loss is only 8%. Chainlink has dropped by more than 17%, while Fantom and The Graph have lost 18%, Gala and Elrond, respectively.
VeChain, AAVE and Curve DAO Token have lost nearly 17%. Theta Network and Harmony lost 19% each on the news that Putin declared war against Ukraine.
PancakeSwap’s losses are just under 18%. Kadena lost between 19-20%, while Mina is down 20%. Convex Finance is the biggest loser, losing almost 25% of its value.
Unifty provides Contracts-as-a-Service solutions to enable digital artists and collectible issuers to create their own contracts for different purposes without coding knowledge. In the last 24 hours, the token’s value increased 82%.
ACCEL rallies amid the gloomy and doom on the news that Binance will be listed today. Over 18% has been gained by the token in just 24 hours. It is a multifunctional asset that promises to bring many real-world benefits to the crypto market.