Russia-Ukraine crisis: Cryptocurrencies plunge from impact, Bitcoin in red
Cryptocurrencies traded in the red early on February 22 amid the impact of the Russia-Ukraine crisis. Russia's continued aggression towards Ukraine has prompted the United States and Europe to vow sanctions, further casting shadow over global markets.
Bitcoin's price is currently Rs 29.63 lakh, by a 4.35 percent fall over the past 24 hours, as of 8.55 am. Ethereum at Rs 2.05 lakh is also down by 4.81 percent.
The biggest losers among cryptocurrencies are Cardano (Rs 67.97) and XRP (Rs 55.72), which tanked 11.31 percent and 11.16 percent respectively; followed by Binance Coin (Rs 28,500, down 7.65 percent); Dogecoin (Rs 10.21, down 7.43 percent); and Polkadot (Rs 1,286, down 6.91 percent). The sole green was Tether priced Rs 79.45, with a minor 0.49 percent gain.
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Geo-politics at play
Russian President Vladimir Putin ordered the deployment of troops to two breakaway regions in eastern Ukraine after recognising them as independent on February 21, accelerating a crisis the West fears could unleash a major war.
The moves drew condemnation from the United States and the European Union, who vowed of new sanctions, although it was not immediately clear whether the Russian military action would be regarded by the West as the start of a full-scale invasion. The area was controlled by Russian-backed separatists and Moscow in practice.
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The United States on February 22 said it will impose sanctions on Moscow, following an initially cautious response to President Vladimir Putin's order for Russian troops to deploy in two Kremlin-backed separatist areas of Ukraine.
"We plan to announce new sanctions on Russia tomorrow in
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