- Vitalik says Ethereum is neutral, but he is not.
- He tweeted this following Putin’s declaration of war on Ukraine.
- The crisis resulted in a serious decline in the prices of cryptocurrencies.
In the midst of awakening turmoil between Russia and Ukraine, the global crypto market declined to a record low. Bitcoin and other altcoins like Ethereum have been dipping since the hint of war hit the news wave.
Talking about Ethereum, co-founder Vitalik Buterin tweeted that Ethereum is neutral but he is not. He declared this following Putin’s declaration of a ‘special military operation’ in Ukraine.
Reminder: Ethereum is neutral, but I am not.
— vitalik.eth (@VitalikButerin) February 24, 2022
Russia-born but brought up in Canada, Vitalik reminded everyone that his thoughts do not reflect the views and opinions of his company. That said, Ethereum remains neutral.
Meanwhile, he also tweeted “Glory to Ukraine” and condemned Putin’s decision to go on with war by abandoning the chances for a peaceful solution. He also wished everyone safety, even though the situation does not bring it. Also, he mentioned the turmoil as a “crime against the Ukrainian and Russian people’’.
Following the crisis, Ethereum fell 12.07% in the last 24 hours. It also has a current market capitalization of $279.7 billion. Moreover, it has been declining around 24.17% in the past seven days. At the time of writing, it trades at $2,349.02.
To focus more on other cryptocurrencies, Bitcoin has also signaled red with 8.82% in the past 24 hours. It now trades around a market cap of $658.5 billion and a price hanging on $34,652.2.
To add, other altcoins like XRP, ADA, BNB, SOL also indicate a red wave week. DeFi coins’ market cap has also decreased by 11%.
In short, the global crypto market capitalization is $1.56 trillion which is 9.91% lower than yesterday.
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