Highlights March 7: Major cryptos in the red, UK100 suffers amidst Russia-Ukraine war

Time Stamp: March 7, 2022 5:51 AM
Source Node: 1202705

Crypto market as a whole is in the red today. Ukraine has spent $15 million worth of cryptocurrency, primarily Bitcoin and Ether, on military equipment. It has received more than $50 million in cryptocurrency donations.

The UK100 lost more than 6% last week as the escalating Russia-Ukraine war caused a selloff in global markets. Firms with strong Russian links were the biggest losers, with miners Polymetal International and Evraz slumping 64.87% and 60.02%, respectively.

The price of oil has risen around 30% in the past week. It almost reached $125 early Monday morning and was trading around $123 at time of writing. Investors will be following closely the possibility that the US will ban imports on Russian oil, which could send prices even higher.

Top cryptos

Solana is down more than 6%, while Cardano, Avalanche, and Ethereum slid more than 4%. Bitcoin was trading just above $38,000 at time of writing, down around 3% over the past 24 hours.

Top movers

Most top 100 coins lost 3-5% of their value today. A notable standout is Fantom, which shed almost 12% of its value. Anchor Protocol lost 14% as the effects of a recent cash injection begin to dissipate.

Convex Finance is still spiraling downward. It has lost 8.68% in the last 24 hours and 9.82% over the past 7 days after a bug caused CVX to sink on a forced token unlock.           

Monero is down 6%, reversing recent gains. Other notable losers include Zcash (-9%) and Chiliz (-7%). Waves is still rallying on support for Ukraine. It gained around 2% today.   

Trending

The token of Meta Speed, an online multiplayer racing game based on blockchain technology, gained 746% today. You can gather your friends, form a team, battle with others and earn token rewards after winning the race.

MovieBloc, a decentralized movie and content distribution platform, is surging on news of lucrative film studio partnerships. The exciting movies it screens contribute to its massive popularity. It added 82% to its value in 24 hours.

The live TROY price today is $0.007 with a 24-hour trading volume of $118 million. TROY is up 29% after announcing an upcoming NFT launch.  

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