Russia's Attack On Ukraine Makes Cryptocurrencies Drop, Ethereum Founder Disappointed

Russia's moans against Ukraine received negative responses from a number of cryptocurrencies. (photo: doc. unsplash)

JAKARTA - Global cryptocurrency and stock markets plunged after Russian President Vladimir Putin announced on a national broadcast that his troops would carry out a "special military operation" in Ukraine.

As the sun began to rise over Ukraine, Russian troops launched missiles at several areas of the country, including the capital Kiev and the city of Kharkiv.

Bitcoin (BTC) price had fallen 7.26% to $35.000 as of Thursday, February 24, according to Cointelegraph Markets Pro. Ethereum (ETH) prices are down 9.48% and Ripple (XRP) are down 9.24% on the day. The overall cryptocurrency market cap has fallen 8.25% to $1.58 trillion.

Volatility surged on other major global financial indexes as the S&P 500 (GSPC) and Dow Jones Industrial Average (DJI) fell nearly 2% in the last hour.

Ethereum founder Vitalik Buterin, who spent the first six years of his life in Kolomna and in Russia, tweeted at around 4 a.m. UTC in Russian that he was disappointed by Putin's actions.

“Deeply disappointed by Putin's decision to ignore the possibility of a peaceful solution to the dispute with Ukraine and go to war instead. This is a crime against the people of Ukraine and Russia. I want to pray for everyone's safety, even though I know that there will be no security. Glory to Ukraine," tweeted Buterin.

He added later in English: “Reminder: Ethereum is neutral, but I am not.”

Очень расстроен решением Путина отказаться от возможности мирного решения спора с Украиной и вместо этого начать войну. Это преступление против украинского и русского народа.

Хочу желать всем безопасности, хотя знаю, что не какой безопасности не будет.

Слава Украине.

— vitalik.eth (@VitalikButerin) February 24, 2022

Atlas DEX advisor Altcoin Sherpa tweeted that the focus should be on the people involved and not the effect on the market.

Thoughts are with all of those in Ukraine tonight. We sometimes forget that there are real people living in these situations and it's not all about the market. 😔

— Altcoin Sherpa (@AltcoinSherpa) February 24, 2022

Analyst Will Clemente, the Lead Insights Analyst at Bitcoin mining firm BlockWare, tweeted:

Russia is the third largest oil producer in the world.

Oil just hit $100 a barrel.

The impact of this situation is going to be felt globally.

— Pomp 🌪 (@APompliano) February 24, 2022

“Oil prices have jumped to $99.50 in response to Russia's actions. As reported by Cointelegraph, podcast host and cryptocurrency investor Anthony “Pomp” Pompliano points out that because Russia is the third-largest oil producer in the world, “The impact of this situation will be felt globally.”