- Although Vitalik claims to be unbiased, he is not.
- Following Putin’s declaration of war on Ukraine, he tweeted this.
- The price of cryptocurrencies has plummeted as a result of the turmoil.
The global crypto market has hit a new low amid the escalating tensions between Russia and Ukraine. Since the news of a possible war broke, Bitcoin and other cryptocurrencies like as Ethereum have been falling in value.
Vitalik Buterin, the co-founder of Ethereum, tweeted that Ethereum is neutral, but he is not. He said this in response to Putin’s announcement of a “special military operation” in Ukraine.
Reminder: Ethereum is neutral, but I am not.
— vitalik.eth (@VitalikButerin) February 24, 2022
Vitalik, who was born in Russia but raised in Canada, reminded everyone that his comments do not represent the views and opinions of his organisation. Ethereum, on the other hand, remains neutral.
Meanwhile, he tweeted “Glory to Ukraine” and denounced Putin’s choice to continue the war despite the possibility of a diplomatic resolution. He also wished everyone safety, despite the fact that the situation did not allow for it. He also called the unrest a “crime against the Ukrainian and Russian people.”
Ethereum has dropped 12.07 percent in the last 24 hours as a result of the issue. It has a market capitalization of $279.7 billion right now. Furthermore, it has dropped by 24.17 percent in the last seven days. It is now trading at $2,349.02 at the time of writing.
To focus on other cryptocurrencies, Bitcoin has also turned red in the last 24 hours, falling 8.82 percent. It now has a market capitalization of $658.5 billion and a price of $34,652.2.
Other altcoins, such as XRP, ADA, BNB, and SOL, are all indicating a red wave week. The market capitalization of DeFi coins has also dropped by 11%.
In summary, the global crypto market capitalization now stands at $1.56 trillion, down 9.91 percent from yesterday.
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.