The ultimate beneficiary of this Russia-Ukraine war will still be cryptocurrency

The negotiations between Russia and Ukraine are attracting everyone's attention. The negotiations started at 17:00 Beijing time. No important information has been leaked yet. We can only wait for the content of the communication between the two sides. At 9 o'clock last night, Putin announced that strategic weapons entered a special combat readiness state, which means that Russia will always be ready with its own nuclear weapons. Bitcoin, which had been rising in small steps, has changed its trend directly. No matter how valuable an asset is, it is not as valuable as human life. At a critical moment, people will definitely sell all their assets to maintain their lives, and the rise of Bitcoin has come to an abrupt end.

But judging from the situation in Russia and Ukraine, the basic judgment of the madman yesterday was not wrong. The volume of Bitcoin transactions in Russia denominated in rubles has soared to a 9-month high, and the exchange rate of the US dollar/ruble has soared by 30%. The Russian bank interest rate has increased to 20%. At the critical moment of the battle to defend the ruble, cryptocurrencies will help some Russians fight against the depreciation of legal currency and the inability of the ruble to circulate across borders. With the closure of the SWIFT system, the ruble has become an island of global currency and cannot circulate normally. Even the European Union has begun to recommend a ban on transactions with the Russian Central Bank and freezing its assets. In this context, more people around the world will realize that only cryptocurrency is a safe and reliable way to store money. Your coins will always be your property and no one can freeze them. The ultimate beneficiary of this Russia-Ukraine war will still be cryptocurrency.

In Ukraine, the Deputy Prime Minister announced the address for accepting crypto donations. This is the first sovereign country to recognize cryptocurrency donations. The donations are increasing rapidly. Currently, 36 million US dollars have been received, including 10 million US dollars from Binance and 6 million US dollars from crowdfunding. It is expected that more caring people in the society will provide support to the Ukrainian government in the future. Donations for buying coins will also become incremental funds for cryptocurrencies in the near future. At the same time, Ukraine also proposed to reward Bitcoin to surrendered Russian soldiers, which is also a manifestation of extreme trust in Bitcoin at a critical moment. The price of Bitcoin on Ukrainian crypto exchanges still shows a substantial premium. Its Deputy Prime Minister hopes to implement a comprehensive crackdown on Russian cryptocurrency users. After that, Kraken said it would not respond to the request to block Russian user addresses, and Binance said it would take necessary measures to sanction users. This is another game between exchanges, full of uncertainty and drama.

Some people have proposed the opposite idea to the madman, saying that if Russia uses cryptocurrencies to evade sanctions, it will cause market prices to plummet because US regulators will crack down on the industry. This should be the view of outsiders. As everyone knows, cryptocurrencies cannot be cracked down on at all. We can only rely on everyone's consensus and do things fairly. The United States cannot ban this industry, let alone sanction a country through the crypto industry. The decentralized world is not dominated by hegemony.

The CEO of e-commerce giant eBay said that it will accept cryptocurrency payments. With the participation of this giant, its ability to pull the market will not be worse than that of Tesla or Amazon. After all, the platform's cash flow and capital management capabilities are extremely strong and it is worth looking forward to.

OpenSea currently accounts for 96.1% of the total transaction volume in the NFT market, LooksRare and X2Y2 account for 3.5% and 0.3% respectively. It seems that the NFT platforms that rely on models have ultimately failed to break through, and OpenSea's dominance will continue.

Panic Greed 20, back to extreme panic again.

Coin News:

Bitcoin: The number of addresses holding more than one Bitcoin hit a 10-month high of 817,445. Everyone is storing value in Bitcoin, and ultimately the only way forward is to increase its value.

Last week, the volume of large Bitcoin transactions exceeding $100,000 fell by half, indicating that the market is obviously waiting and watching, and a change in the market should be imminent. The daily level rise has not yet ended, so just continue to hold positions and wait for the rise. The pressure above 41,000 is strong.

ETH: Obviously weaker than Bitcoin. The logic should be that the war funds are shifting to Bitcoin rather than Ethereum. There has not been much progress in the ecology recently, and there is almost no money-making effect. Therefore, it will continue to be weakly linked to Bitcoin in the short term.

DOT: The founder of Polkadot said that if Ukraine releases the Polkadot address, he will donate 5 million US dollars. This seems to be a waste of money to attract attention. The market does not buy it, so it will be smashed first. The overall trend is weak.

AAVE: 13 whale addresses hold 66.75% of AAVE, indicating that the chips have been highly concentrated during the decline. In the future, these whales will intervene in the price of the currency at the right time to complete the purpose of raising shipments. Therefore, there are still opportunities in the future, and we need to wait for the right time, place and people.

In troubled times, Bitcoin is relatively stable. Whether it is a negotiated settlement or black swans continue to fly out, we may have the answer tonight. In short, large fluctuations are inevitable, and the technical form remains bullish.