CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
US English

Cryptocurrencies rebound as Biden triggers sanctions

By Daniela Ešnerová


Updated

Coins with individual cryptocurrency logos
The whole cryptocurrency market was up by 7.9% in European morning trade – Photo: Shutterstock

The entire cryptocurrency market, which was recently impacted by Vladimir Putin invading Ukraine on Thursday early morning, received a boost after US President Joe Biden announced sanctions against Russia.

The president’s statement referred to “sweeping financial sanctions and stringent export controls that will have a profound impact on Russia’s economy, financial system and access to cutting-edge technology”.

He further clarified that “The sanctions measures impose severe costs on Russia’s largest financial institutions and will further isolate Russia from the global financial system.”

The cryptocurrency market was up by 7.9% in European morning trade.

Christmas comes to aid the Ukrainian army as donations of $4m worth of BTC pour inBitcoin given in aid of Ukraine

On Thursday, Ukranine’s central bank suspended foreign exchange (forex) cash withdrawals and limited how much local currency people could take out from automated teller machines (ATMs). 

Meanwhile, over $4m (£2.9m, €3.6m) worth of bitcoin (BTC) has been donated via crowdfunding to the Ukrainian army.

XRP/USD

0.61 Price
+1.640% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.01168

SOL/USD

181.36 Price
-1.160% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 2.2652

ETH/USD

3,499.60 Price
-0.050% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 6.00

BTC/USD

67,552.90 Price
-0.370% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 106.00

According to Elliptic, which is monitoring amounts donated with live updates, “On February 24th alone, one NGO [non-governmental organisation] received over $675,000 in bitcoin, and by 9.30am on the 25th, it had already received more than $3.4m – over $3m of which was sent by a single donor.

“This pushes the total the group has raised in just 24 hours to over $4m.”

In addition, crypto derivatives exchange FTX, gave $25 to each Ukrainian user. Commenting on the move, FTX chief executive also Sam Bankman-Fried said: “We just gave $25 to each Ukrainian on FTX. Do what you gotta do.”

FTX states that it matches every $10,000 of user donations with crypto aid to chartities it considers “the most effective” – this includes the Malaria Foundation, the American Civil Liberties Union (ACLU).

What is your sentiment on ETH/USD?

3499.60
Bullish
or
Bearish
Vote to see Traders sentiment!

Quote of the day: ‘Ethereum is neutral, but I’m not. Glory to Ukraine’

Russian-Canadian computer programmer and Ethereum co-founder Vitalik Buterin wrote that he was “very upset” about Putin’s offensive in Ukraine.

Twitter post by Vitalik ButerinTwitter post by Vitalik Buterin, Russian-Canadian computer programmer and co-founder of Ethereum condemned Putin's military actions. – Credit: Twitter

Top cryptocurrency coins by market capitalisation

As of 09:30 GMT:

Winners and losers

Markets in this article

BNB/USD
Binance Coin / USD
603.18 USD
-3.12 -0.520%
BNB/USD
Binance Coin / USD
603.18 USD
-3.12 -0.520%
BTC/USD
Bitcoin / USD
67552.90 USD
-253.6 -0.370%
ETH/USD
Ethereum / USD
3499.60 USD
-1.83 -0.050%
THETA/USD
THETA/USD
1.596 USD
-0.068 -4.150%

Rate this article

Related reading

Capital Com is an execution-only service provider. The material provided in this article is for information purposes only and should not be understood as investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents and has not been prepared in accordance with the legal requirements designed to promote investment research independence. While the information in this communication, or on which this communication is based, has been obtained from sources that Capital.com believes to be reliable and accurate, it has not undergone independent verification. No representation or warranty, whether expressed or implied, is made as to the accuracy or completeness of any information obtained from third parties. If you rely on the information on this page, then you do so entirely at your own risk.

Still looking for a broker you can trust?

Join the 630,000+ traders worldwide that chose to trade with Capital.com

1. Create & verify your account 2. Make your first deposit 3. You’re all set. Start trading