Ukraine has raised more than $17 million in cryptocurrency donations since Russia began its invasion. Almost 24 hours after the government requested donations of Bitcoin, Ether, and Tether, over $10 million was donated directly to crypto wallets released by the Ukrainian government.
Europe Cut Some Russian Banks From SWIFT
A joint statement from the White House, European Commission, France, Germany, Italy, the United Kingdom and Canada confirmed the news late Saturday. Several Russian banks will be blocked from the international payment system, and the Central Bank of Russia will also be frozen and its movement to liquidate its overseas reserves limited. The statement said the action would "further isolate Russia from the international financial system."
Bitcoin Whale Transactions Hit One-Month High
According to chain base and social metrics analytics platform Santiment, the crypto market has reached its highest transaction count since Jan. 24, with both over $100,000 and over $1 million. During this time, there has been an increase in whale activity after the Bitcoin price, which had pulled to lows, similarly bottomed out. In a tweet released Feb. 26, Santiment stated that last week there were more than 15,000 Bitcoin transactions worth over $100,000. During the same period, at least 4,500 transactions worth over $1 million were also recorded.
Amount of Ethereum Burned After EIP 1559 Near 2 Million
About 200 days ago, burning processes started with EIP 1559 on the Ethereum network. Since then, 1,915,220 Ether has been burned, worth over $6.9 billion when calculated using today's prices.
Crypto Demand Rises In Ukraine After Cash Transfer Suspension
After the central bank suspended electronic cash transfers this week, Ukrainian citizens were seen hoarding cryptocurrencies as war with Russian forces spread across the capital, Kiev. With the foreign exchange trade blocked in the country, it was seen that citizens were looking for dollar alternatives in crypto.
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