November 22, 2024
Russia Launches Hypersonic Missile Oreshnik at Ukraine
Russian President Vladimir Putin announced that the military had launched the hypersonic missile Oreshnik at Ukraine, viewing it as a response to "NATO's aggressive actions." He warned that Moscow has the right to attack countries supporting Ukraine. Ms. Singh from Ukraine emphasized that all weapons pose a threat to civilians, while the White House spokesperson committed to continuing support for Kiev. Putin stated that the Oreshnik missile travels at speeds ten times the speed of sound and that no air defense system can intercept it.
Geopolitical events like this often have a strong impact on financial markets, including the cryptocurrency market. This article will specifically analyze the effects of this news on coins such as Trust Wallet Token (TWT), SafePal (SFP), and Solar (SXP).
Increased Price Volatility: When conflict arises, the cryptocurrency market typically reacts with significant volatility. Coins like TWT, SFP, and SXP may experience price declines if investors become concerned about the political situation. Price fluctuations can occur due to sell-offs from investors looking to recover their capital in uncertain conditions.
Shift to Safer Coins: During periods of instability, investors tend to seek safer assets. Bitcoin and stablecoins are often considered better options in this context. If TWT, SFP, and SXP are not viewed as safe assets, they may witness a shift of capital to other coins, leading to price drops.
Indirect Impact from Overall Market Trends: The cryptocurrency market often moves in a general trend. If news about the conflict causes the cryptocurrency market to decline, TWT, SFP, and SXP will likely be similarly affected, regardless of the specific circumstances of each coin. This is something investors need to keep in mind.