The Best- and Worst-Performing Coins in the Second Week of the Ukraine War

Altcoins Bitcoin Cryptocurrency Market Tether Ukraine war

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Fredrik Vold

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Fredrik Vold

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June 26, 2023

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Two weeks after the war in Ukraine started, the crypto markets continue to be volatile. Bitcoin (BTC) has seen unusually big moves both up and down, often moving in tandem with changes in the global risk sentiment. As usual, however, the biggest movers are altcoins, which have seen both strong gains and heavy losses since the war broke out.

Following up on our overview of the biggest movers in the crypto market for the first week of the war, here are the top three best and worst performers in crypto for the second week of the war.

The price changes for all the coins are measured against USD or tether (USDT) from the opening price on February 24 (UTC time) and until the time of writing (13:20 UTC) on Friday, March 11.

Top 3 best-performing coins in the second week of the war:

1. Waves (WAVES): up 45.2% for the week to USD 26.61
2. Stacks (STX): up 18.6% for the week to USD 1.42
3. Zcash (ZEC): up 18.5% for the week to USD 151.78

Top 3 worst-performing coins in the second week of the war:

1. Fantom (FTM): down 33.1% for the week to 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 USD 0.0815

As can be seen, it’s once again a mixed bag of coins that have been on the move, with the gains for WAVES, by some dubbed the ‘Russian Ethereum’, standing out as particularly strong. This is the second week that WAVES ranks as the top-performing coin, after seeing a gain of 85.1% during the first week of the war.

The strong performance comes after the team behind the protocol unveiled a new roadmap that included plans for an expansion of its physical presence into the US, as well as the compatibility with the Ethereum Virtual Machine (EVM).

Meanwhile, on March 7, well-known decentralized finance (DeFi) developer and creator of Yearn.Finance (YFI), Andre Cronje, said that he is leaving the DeFi space — after which FTM, the native token of the Fantom blockchain that many of Cronje’s protocols are built on, and several other coins he worked on, dropped.

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Learn more:
– ‘Russian Ethereum’, Waves, Almost Triples Since Ukraine War Began
– Fantom, Other DeFi Tokens Shaken as Top DeFi Developer Andre Cronje Quits

– Ukraine Tether Trading Volume Sees Strong Growth, Persistent Premiums
– Ukraine War Raises Questions About the ‘End of Monetary Regime’ and Role of Bitcoin

– As New Crypto Sanction Screening Tool Launched, Tornado Cash Keeps Mixing and FBI Chimes In
– EU Clarifies Crypto-Related Sanctions on Russia & Belarus, But Questions Remain