Ukraine, Russia, and Crypto Neutrality

“Wars In Europe Rarely Start On A Wednesday” Firmly Said Russia’s EU Ambassador To A German Newspaper Denying Any Planned Attack Or Escalation In The Weeks, Days Or Months To Come By. Coming Days On February 24th,2022 As Part Of “Special Military Operation” Russia Sent Troops To Ukraine, Something Which Western Powers Condemned As An Outright Invasion. The Domino Effect It Brought Upon Resulted In Global Cryptocurrency Marketing. Most Of The Valuable Assets Have Dropped Between 10% To 18% Since The Invasion Which Sent Tremors Across Global Markets.
 

Bitcoin Fell To Its Lowest Level Since January. Altcoins Like Ethereum’s Tokens Dropped Almost 14% Whereas Solana, Cardano, Terraa All Plunged 10-12%

Crypto Neutrality 

Crypto’s Political Neutrality And A Borderless, Stateless Nature Have Become Somewhat Of A Utopian Narrative More Than That Of An Inherent Principle As Bombs Were Dropped On Ukraine.

In These Precarious Times Even When Switzerland Is Absconding From Its Historical Neutrality Throne, Cryptocurrencies Are Finding It Even Harder To Steer Clear Of The Geopolitical Facts On The Ground. Just Like How Crypto Fans Are Torn Between Taking Sides And So Have The Crypto Exchanges Asked To Confront The Freewheeling Nature They’re Possessing. But With History Being Written, It’s Still Fizzy To Say HODL Will Mean The Same Thing In Post War Crypto Market.

The Other Side 

Historically In These Uncertain Times, The Flow Of Money Is More Towards Safe Heavens In Gold. Since The Inception Of The Conflict, The Bank Run Has Been On Both Sides. A Bank Run Essentially Is An Event When A Large Group Of Depositors Withdraw Large Amounts Of Money From Their Bank.
In This Scenario, Crypto Is Looking Better. It Is Getting Difficult To Get Gold Across The Borders And The Fiat Currency Is Losing Its Value.
Testimonials Have Arrived From Ukraine Refugees, Who Have Little Financial Stability Solely Because Of The Cryptocurrencies They Bought.
Since The Time Cryptocurrencies Have Started Acting As A Double-Edged Sword People Have Started Stalking Crypto, Especially Bitcoin. Bitcoin To Rouble Transactions Have Also Been Record High, Which Implies People Are Selling Their Roubles And Buying More Bitcoins. 

Many Cryptocurrencies Have Suffered From High Fees And Slower Transactions Thus It Became A Blocker To Their Adoption. However As Fate Would Have It, During This Invasion/War, Ukraine Began To Accept Donations Via Cryptocurrencies To Fund Its Military Operations. This Provided An Advantage To Ukraine, As Taking Donations Via Traditional Banking Methods Would Have Been Difficult Considering The Cost Of Sending Money And It Would Have Been Difficult For Ukraine To Receive It As Well.
We Can Also See Some Of The Cryptocurrencies Original Value Propositions Being Validated.