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Fall of Ethereum due to Putin’s latest decision and Ukrainian-Russian tensions


The crypto investor community decided to liquidate their risky digital assets to safeguard their portfolios from further price reductions as the fear of Russia invading Ukraine loomed, thus they sold Ethereum.

He said that Vladimir Putin has made the decision to attack Ukraine and that a military operation may take place within days.

There were reports of shelling and a variety of other things on Saturday and Sunday.

President Vladimir Putin of Russia officially recognized the independence of two areas in eastern Ukraine backed by Moscow. This is where Russia has been supporting rebels in a war that has been going on for eight years.

The United States and its European allies are likely to see Putin’s decision as a big provocation and even an excuse for taking over Ukraine, so they’ll be angry.

Many experts think that Moscow’s official recognition of the rebels would effectively end a ceasefire that some Western allies thought would be a way out of the conflict.

A smart contract-based blockchain called Ethereum is decentralised and open source. You can buy and sell things on the platform with the cryptocurrency Ether, which is called ETH or. When it comes to cryptocurrencies, Ether is only second to Bitcoin in terms of market value.
Vitalik Buterin came up with the idea for Ethereum in 2013. Gavin Wood, Charles Hoskinson, Anthony Di Iorio, and Joseph Lubin were also the founders of Ethereum. There was a lot of work done on the network in 2014. Crowdfunding helped pay for it. The network went live on July 30, 2015.

Putin has ordered Russian military to “perform peacekeeping tasks” in the separatist areas of eastern Ukraine (Updated 2/22/2022)

Putin ordered military to peacekeeping tasks in the separatist areas of eastern Ukraine

In an angry and outraged speech to the Russian people, President Vladimir V. Putin ordered soldiers into two Russia-backed separatist enclaves in Ukraine, hinted at the potential of a larger military assault, and claimed all of Ukraine as a nation “made by Russia.”

Mr. Putin was subsequently shown on Russian state television late Monday signing decrees recognizing the so-called Donetsk and Luhansk People’s Republics and authorizing the Russian Defense Ministry to send soldiers to those territories to perform “peacekeeping tasks.”

At an extraordinary meeting of the United States Security Council on Monday night, numerous nations decried the directive as a breach of international law and Ukraine’s sovereignty.

“He calls them peacekeepers,” US Ambassador to the United Nations Linda Thomas-Greenfield stated. “This is nonsense. We know what they really are.”

It was unclear immediately if the Russian forces would restrict themselves to the zone controlled by the separatist republics or attempt to take the remaining land of the two Ukrainian enclaves.

As a result of Russia attacking Ukraine, Ethereum is dropping in value (Updated 2/24/2022)

fall of ether

because of Russia’s and Ukraine’s war In the last seven days, the price of Ethereum has dropped by 23.98 percent. In the previous 2/4 hours, the price has dropped by 11.42 percent. The price has dropped by 2.18 percent in the last hour. The current price of one ETH is £1,737.50. Ethereum is 52.05 percent of the way down from its all-time high of £3,623.46.

Russia has launched an assault on Ukraine after President Vladimir Putin ordered a “special military operation” in the country’s east at the same time the United Nations Security Council gathered for its second emergency meeting this week.

On Thursday, Russian media claimed that President Putin had ordered a “special military operation” in Ukraine’s Donbas area, where Moscow had previously recognized rebel-held regions in Luhansk and Donetsk and stated they had sought for its “assistance.” He said that clashes between Russian and Ukrainian soldiers were simply a matter of time.

Vitalik Buterin, the founder of Ethereum, has described Russia’s incursion as a crime (Updated 2/24/2022)

On Wednesday, Vitalik Buterin, one of Ethereum’s creators, said in his native tongue that Russia’s aggression against Ukraine was “a crime against the people of Ukraine and Russia.” Buterin stated, “I am extremely disturbed by Putin’s choice to forsake diplomatic solutions to the Ukraine crisis and to resort to war.”

Following the recognition of two separatist areas in eastern Ukraine earlier this week, Russian President Vladimir Putin warned on Wednesday that Russia will undertake a “special military operation” in Ukraine, implying full-fledged assault.

Buterin called on Putin to de-escalate tensions earlier this month, tweeting: “An assault on Ukraine can only harm Russia, Ukraine, and mankind.”

Buterin was born in Russia in the aftermath of the Soviet Union’s demise and emigrated to Canada with his family in 2000, the same year Putin was elected Russian president. Dmitry Vitalik’s father has strong feelings regarding Russia’s powerful guy. In an interview in early 2021, he remarked, “He is a KGB, and they are the ones who tortured and slaughtered millions of Russians and Ukrainians.”

Buterin has been active in diplomacy since he was a child. He met with Putin in 2017 to discuss using Russia’s EthereDmitry Vitalik’sum network. Putin has, of course, already fought and destroyed cryptocurrencies like bitcoin. He recently defied Russia’s central bank’s efforts to outlaw cryptocurrencies, claiming that the country’s energy resources provide “unique competitive advantages” for bitcoin mining.

But, since the nature of cryptocurrencies is incompatible with dictatorship, neither Putin nor Russia have completely embraced them. Distributed blockchains, which are controlled by thousands of individuals all over the globe, are designed to be non-partisan and decentralized. They are, nevertheless, constructed by individuals who have political beliefs.

Buterin added, “A reminder.” “Ethereum is neutral, but I’m not,” says the narrator.

About Nicolle

She is an Indian Freelance writer. She loves thinking, learning, and writing about all things Web3.

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