Bitcoin and LNA trading on the rise as traders brace for the Ukraine crisis

All eyes are on the war in Ukraine, including those of criptocurrencies traders, and for obvious reasons. Many people are trying to adapt to the geopolitical situation and are trying to figure out how to adapt to the volatility of cryptocurrencies over the past week. It is safe to assume that some of the buying pressure is coming from Russia, Ukraine and other parts of eastern Europe, as people are trying to save their money.

Exchanges are keeping a close eye on the sanctions list, as the major western exchanges, such as Kraken and Binance, are still open to Russian customers. The trading crowd has moved their attention over the past week over the Russia-Ukraine situation, while the focus on the U.S. Federal Reserve and the high inflation rate has become dormant, according to data from Santiment.

Daily active addresses are on the rise.

The number of daily active addresses ofBitcoin is on the rise at the same time. Daily active addresses can be a leading indicator for price action. The number of daily active addresses has gone above 1 million, as BTC has been rallying above $43k recently.

Whales are becoming more active in making huge transactions, while the price of bitcoin hovers between $43,000 and $45,000. In the last three days, there have been 13,400 transactions of BTC over $1 million in value.

Retail interest inBitcoin is returning to the market, according to analysts IntoTheBlock. The number of traders holding bitcoins for more than 30 days is increasing as a result of the price appreciation of the digital currency. They have increased their balance by 4.2%, because they tend to follow the price action.

After a strong rally the past couple of days, the BTC is trading at around $43,600 at the time of writing. The price of the digital currency has gone up 16.3% over the week, after trading below $35,000 a week ago. Since the 10th of November, the price of digital currency has gone up 36.9% since the all-time high of $69,044.

LUNA crushes the rest of the market.

As is most of the criptocurrency markets, ether is in the green. At press time, ETH is trading at $2,920 but managed to climb past the $3,000 mark yesterday. The local bottom was $2,349 on the 24th of February, which led to an increase in ether by 12.7% on the week. The ether is still down 40%, despite the high of $4878 on the 10th of November last year.

The big difference between the top two cryptocurrencies by market cap is found in a year. Since it was down 10.2%, ether has gone up 95.3% since a year ago.

The LUNA token is the outstanding exclamation mark in the market for the past week. LUNA is up 55.1% on the week, 77.9% the past 30 days and up 1323% on the year. With a total market cap of over $34 billion, LUNA has passed both Cardano ADA and Solana SOL and is now ranked as number seven by market cap.