Ukrainian war: crypto with best and worst performances
Source: iStock / ryasick
Two weeks after the start of the war in Ukraine, the crypto market continues to be volatile. Bitcoin (BTC) has seen unusually large moves both up and down, often moving in tandem with changes in global risk sentiment. As usual, however, the biggest drivers are altcoins, which have recorded both strong gains and heavy losses since the outbreak of the war.
Following our overview of the biggest moves in the crypto market for the first week of the war, here are the top three best and worst cryptocurrencies results for the second week of the war.
Price changes for all currencies are measured against USD or tether (USDT) from the opening price on February 24th (UTC time) and up to the time of writing (13:20 UTC) on Friday March 11th.
The 3 best performing coins in the second week of the war:
1. Waves (WAVES): up 45.2% for the week at USD 26.61
2. Stacks (STX): Up 18.6% for the week at USD 1.42
3. Zcash (ZEC): up 18.5% for the week to $ 151.78
The 3 worst performing coins in the second week of the war:
1. Fantom (FTM): down 33.1% for the week at USD 1.24
2. Frax share (FXS): down 31.8% for the week to USD 16.60
3. Humans.ai (HEART): down 26.1% for the week to $ 0.0815
As can be seen, it is once again a hodgepodge of coins that have been on the move, with the earnings for WAVES, dubbed by some as “Russian Ethereum”, standing out as being particularly strong. This is the second week that WAVES ranks as the best performing coin, having seen an 85.1% gain during the first week of the war.
The strong performance comes after the team behind the protocol unveiled a new roadmap that included plans to expand its physical presence in the United States, as well as compatibility with Ethereum’s virtual machine (EVM).
Meanwhile, on March 7, well-known decentralized finance developer (DeFi) and creator of Yearn.Finance (YFI), Andre Cronje, said he will be leaving the DeFi sector, after FTM, the native token of the Fantom blockchain on which many Cronje protocols are built and several other coins he worked on have been dropped.