During the military operation in Ukraine, the Bitcoin exchange rate increased by 29%

During the military operation in Ukraine, the Bitcoin exchange rate increased by 29%

During Russia’s military operation in Ukraine, the Bitcoin exchange rate increased by 29%. The second most popular cryptocurrency, Ethereum, showed similar growth rates. Investors come to the Crypto market because of the destabilization of the global financial system, experts believe.

From 05:30 MSK on February 24, when Vladimir Putin announced the beginning of the military operation in Ukraine, to 17:30 MSK on March 1, the price of bitcoin on the exchange rose from $34,800 to $44,700 per coin, according to TradingView. The growth rate of the first cryptocurrency for 5 and a half days was 29%.

The second most popular cryptocurrency among investors, Ethereum, showed similar growth. The price of ethereum rose from $2337 to $3006 during Russia’s military operation in Ukraine, showing a 29% increase.

Other cryptocurrencies, such as Binance Coin, are also rising in value. The total capitalization of the cryptocurrency market at the time of publication is $2 trillion, having increased by 12% in one day.

During the special operation of the Russian military in Ukraine, the bitcoin-RUB trading volume exceeded 1.5 billion rubles for the first time in the last 9 months.

Investors’ interest in cryptocurrencies is growing amid the destabilization of the global financial system due to the imposed sanctions and restrictions related to the military operation in Ukraine, experts believe. Investors see cryptocurrencies as a replacement for traditional financial instruments.

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Written by Renat
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