What is the impact of the current Ukraine and Russia war on Crypto? With so many sanctions being launched against Russia, it could have a huge impact on the economies of both countries and possibly other countries as well. I have read before that there are Ukraine who accept donations via crypto and there is news of a ban on freezing Russia user accounts. I hope the war ends soon, peace is beautiful
The first impact on the crypto market was definitely a negative one as the whole market went down around 10% or so all of a sudden once the news broke that Russia really started to invade Ukraine. I guess no one or at least only a small percentage of people really expected that it would come to this and therefore all the financial markets to a big blow that day and the traditional stock markets still suffer from that. The crypto market started to move upwards though only one or two days after the start of the war as it became obvious that with all that sanctions that are being declared against russia you can not really stop the crypto market to function.