The market situation before the start of the war and the disaster of Do Kwon and LUNA-UST selling over 100,000 Bitcoins has been much worse for the market than the war. If the duration of the Russian invasion of Ukraine lasts for a long time, I also don't think it's a negative for the cryptocurrency industry, I think it could even be a positive as there will be a lot more people searching safe haven alternatives besides gold, and many may choose cryptocurrencies.
In fact, the war caused by the military invasion of Russian troops in Ukraine continues to cause various global consequences that will affect many states and their citizens in the future. Many people think that it will not affect them, but they are deeply mistaken. First of all, you need to understand the large scale of this war. Since the Second World War, there has not been anything like this in Europe, and not only in Europe.
First of all, the scale of losses in manpower and equipment of the warring parties is impressive. The APU reports 31,500 Russians killed. According to classified data from Russia itself, there are more than 34,000 of them, plus about 8,000 Wagner PMCs and about 9,000 mobilized from the unrecognized republics of Donbass. This is already more than 50,000 killed. Together with the wounded, this will amount to more than a hundred thousand invaders.
In addition, according to the Armed Forces of Ukraine, as of June 8, 1,391 Russian tanks, 3,429 armored vehicles, 212 aircraft, 178 helicopters, 703 artillery systems, 213 multiple launch rocket systems, 96 air defense systems, 2,406 various military vehicles, 559 UAVs, 13 ships and boats and other technology. The battles are comparable to the big battles of the Second World War, many cities and towns in Ukraine are almost completely destroyed.
The war and international sanctions imposed on Russia, including the oil and gas embargo, disrupt decades-old supply chains for goods. It affects almost all countries. More than 40 states are now supplying weapons to Ukraine, Russia is also experiencing an already acute shortage of weapons and is also trying to buy them from other states. Due to the fact that weapons are flowing into Ukraine, Russia is threatening many people with missile strikes, including nuclear ones. The United States has already warned Russia that if chemical, bacteriological or nuclear weapons are inflicted on Ukraine, NATO will enter the war and strike at Moscow and other Russian cities and its military facilities.
Russia now continues to block the seaports of Ukraine, where there are more than 22 million tons of grain that cannot reach the world market. Because of this, food prices in many countries have risen significantly, and the UN has warned that more than 40 million people in North Africa and other regions will suffer from hunger.
I think that this is already enough to understand that the world is on the verge of a big catastrophe. And this, you say, will have a very weak effect on the cryptocurrency?