- Ukrainian government issued a direct appeal for cryptocurrency donations
- Putin placed his nuclear forces on alert
- Number of non-zero BTC addresses hit new ATH
Prices of major cryptocurrencies suffered a fatal crash on Thursday after news of Russia attacking Ukraine spread. Major projects crumbled to major support levels, however the market showed some resilience and at the end of the day buyers managed to erase most losses despite negative sentiment. The cryptocurrency market saw a rebound on Friday after additional sanctions imposed on Russia by the US turned out to be less severe than expected. Moods deteriorated again over the weekend, after Western countries decided to impose harsh sanctions on Russia and its ability to finance war and Putin ordered nuclear deterrence forces to be in state of readiness. Today negotiations between Ukrainian and Russian delegations commenced and any glimmer of hope could cause an about-turn in the short-term outlook and thus change the face of markets. Bitcoin's market dominance increased to 42.0%. The capitalization of all digital assets in circulation rose to 1.732 trillion, while an average daily trading volume is registered at $86.77 billion.
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Create account Try a demo Download mobile app Download mobile app- The Ukrainian government has issued an appeal for donations in cryptocurrencies amid the Russian military invasion of the country.
- At the moment, over $10 million has been donated to the government’s crypto addresses. The Ukrainian government has opted for direct crypto donations after an NGO’s Patreon account was suspended.
- Bitcoin addresses with a non-zero balance of BTC jumped to a record level, which may be a sign of improving sentiment.
The number of addresses with a non-zero balance rose sharply in 2019 and 2020, however upward move lost steam in the middle of 2021. Growth resumed since the beginning of 2022, leading to a new ATH of 40,276,163 Source: Glassnode
- According to a report by Bloomberg, Russian billionaires could potentially circumvent any US sanctions by using cryptocurrencies to purchase goods and services and continue to make investments outside countries that are experiencing economic impacts due to the invasion. For this reason Mykhailo Fedorov, Ukraine’s deputy president, called on exchanges to block Russian and Belarusian users’ funds.
- BNY Mellon will now be the first global bank to utilize Chainalysis’s compliance software. Bank is planning to enter the cryptocurrency market as a trusted service provider.
- Trading volumes between the Russian ruble and bitcoin increased to 9-month highs as the country's fiat currency plunged to record lows due to the fallout from Ukraine invasion.
- Crypto Fear & Greed Index fell to 20 and indices rising nervousness on the market.
Index returned to “extreme fear” territory — from 26/100 on Sunday to 20/100, its lowest since Feb. 22. Source: alternative.me
Bitcoin has so far managed to remain in a fairly tight range, and $40,000 is a clear resistance zone for bulls to beat. Nearest major support lies at $38,000 which coincides with 78.6% Fibonacci retracement of the upward wave launched in July 2021. Source: xStation5
Ripple bounced off the lower limit of the triangle formation on Thursday and managed to broke above psychological level of $0.70 which is marked with 78.6% Fibonacci retracement of the upward wave launched in July 2021. As long as the price sits above, another upward move towards resistance at $0.80 may be launched. Source: xStation5
