The 9% slide in crypto market capitalization sparked by Russia's action in Ukraine shows the sector remains a nascent asset class compared with traditional markets, analysts said. By shauryamalwa
The market capitalization of all cryptocurrencies slid to as low as $1.5 trillion, losing almost 9% in 24 hours, as Russia launched aagainst Ukraine. The prospect of damage to the global economy also weighted on broader financial markets, with the Stoxx 600 Europe index falling more than 3%, micro Nasdaq 100 futures down 2.3% and Russia's MOEX equity index dropping a record 28%.
“The aggravation of tension around Ukraine exerted pressure on risky assets,” said Alex Kuptsikevich, a financial analyst at FxPro, in an email to CoinDesk. “There are growing risks of escalation associated with the introduction of Russian troops into Donbass. In such a situation, risky assets may continue to decline further.”Sentiment gauges for the crypto market reached fear levels.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Russia-Ukraine updates: Russia claims it neutralized Ukraine military infrastructure“We condemn in the strongest possible terms Russia’s unprecedented military aggression against Ukraine,” European Council Pres. Charles Michel and European Commission Pres. Ursula von der Leyen say in a joint statement.
Read more »
Ukraine-Russia live updates: EU seeks ‘harshest’ sanctions against RussiaThe European Union announced Thursday that it is planning to impose the “harshest” sanctions in the wake of Russia’s attack on Ukraine.
Read more »
Russia-Ukraine updates: Russia to meet US sanctions with 'strong response'LATEST: Ukraine’s government says a new cyberattack has hit several of its government ministries, knocking their websites offline, amid warnings of attacks from Russia both on the ground and on the web.
Read more »
Russia-Ukraine conflict live updates: Zelenskyy makes plea for peace as Russia threats loomRUSSIA-UKRAINE LATEST: • Ukrainian President Zelenskyy issues a plea for peace during emotional speech. • UN Security Council schedules emergency meeting on Russia at request of Ukraine.
Read more »
Russia-Ukraine updates: US to impose new sanctions on RussiaJUST IN: Pres. Biden will provide an update on Russia and Ukraine at 2:00 p.m. ET, White House announces.
Read more »
Russia-Ukraine updates: Biden announces new sanctions on RussiaPres. Biden: 'At every step, we've shown the United States and our allies and partners are working in unison—which he hasn't been counting, Mr. Putin.'
Read more »