Bitpanda’s Point: Volatile Markets and Crypto Donations for Ukraine

LTC, ETH, BTC, XMR, XRP gold and silver coins, crypto currency. Pattern of coins on a dark background. Business concept. Top view

Bitpanda took stock of the market situation with the traditional analysis of Bitpanda’s Country Manager in Italy, Orlando Merone, which arrives in a week heavily marked by the war in Ukraine. The analysis underlines a very volatile context for equity markets with the main European indices ending the week in the red with the worst loss since 2020, with a drop of more than -9%.

The point of the week of Bitpanda between the war in Ukraine and the crisis of the markets

Meanwhile, Bitpanda points out, Visa, Mastercard and American Express discontinue services in Russia but owners of Mastercard and Visa cards will still be able to transact domestically. Moreover, since the beginning of the war, many companies have interrupted their services in Russia since the beginning of the war. Also noteworthy is a skyrocketing oil price. The price of crude oil has risen to an all-time high since 2008.

News from the crypto world

Last week, Bitpanda’s analysis points out, it ended with un declining trend for the cryptocurrency market. It should be noted that LUNA has become the second most important cryptocurrency by staking value, even surpassing Ethereum. Meanwhile, Bitpanda highlights, around $ 50 million in crypto has been raised since Ukraine accepts cryptocurrency donations in favor of the Government and NGOs. Bitpanda has decided to contribute through the Bitpanda Emergency Response Fund.