Author: Andrew Turner

We’re closing in on two weeks since Russian forces invaded Ukraine and the largest land war on European soil since 1945 is continuing to cause increased volatility on financial markets worldwide. Nevertheless, the prices of certain commodities are skyrocketing. This is especially evident when we look at crude oil and natural gas markets, as Russia is a major player in the global energy market. However, as investors are searching for financial safe havens, to weather the storm, the cryptocurrency sector has not, at least during Week 9, attracted massive amount of attention as some expected. While there was a smaller bull run in the middle of the week, which drove the total market capitalization of the sector up to $2 trillion, the market correction in the second half of the week negated all the gains. In fact, the total market capitalization of the cryptocurrency sector at the end of Week 9 ($1.76 trillion) was almost exactly the same as it had been at the beginning of the week ($1.75 trillion).