Russia invades Ukraine, Stablecoins gain as much as Bitcoin and Ether collapses

Stablecoins, which are trademarks denominated in traditional currencies such as the US dollar, held profits on Thursday between the sale of risky assets such as stocks and bitcoin after Russia launched a full-scale invasion of Ukraine.

Most stablecoins were slightly higher per day. Their market capitalization increased by 0.3%. $ 182.5 billion, according to cryptocurrency data tracker coinmarketcap.com. Its daily trading volume, however, increased by 75% to $ 108.1 billion.
On the contrary, both bitcoin and ether dropped to one month. Bitcoin last declined 3.1% to $ 36,121, while ether fell 4.1% to $ 2,475, following a Russian attack.

Ukrainian troops battled Russian invaders in almost every part of the country on Thursday after Moscow attacked the land, sea, and air attacks in Europe's largest attack since World War II.

"You have a dangerous environment that has been going on for months now, and that has somehow increased the demand for digital dollars, so we have really seen the end of last year and to this day the significant growth in the demand for dollars. USDC," said Jeremy Allaire, founder, and CEO of Circle. referring to the stablecoin USD coin,
denominated in US $ 1 to 1.

The USD Coin has risen 0.1% to $ 1, a coinmarketcap data show. Some of the major gains in stablecoin were Fei USD, stablecoin in the fixed financial position, which increased by 1.2%, and Liquidity USD, which increased by 1.4%.

"Although stablecoins have a much stronger scope and less flexibility than other crypto assets, their supply is actually limited," said Joe DiPasquale, chief executive of BitBull Capital, which oversees cryptocurrencies.

"If there is a growing demand for commodities like USDC in trade, you are likely to see their price increase by half a percentage, as we have seen in the last 24 hours," he added.

comparable to bitcoin.
U.S. Treasury yield decreased by about 4 points to 1.9425%, as prices rose, while the dollar index rose sharply from the end of June 2020. It lasted an increase of 1.2% to 97.382.

Russia's invasion has diminished the idea that bitcoin is a safe haven, say analysts. In fact, the world's largest cryptocurrency behaves like a dangerous asset. Since the beginning of the year when the Russian-Ukrainian crisis began to erupt, bitcoin has lost 22% of its value against the dollar.

Investors have flocked to the Treasury and the US dollar, even gold, commodities comparable to bitcoin.
U.S. Treasury yield decreased by about 4 points to 1.9425%, as prices rose, while the dollar index rose sharply from the end of June 2020. It lasted an increase of 1.2% to 97.382.

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