5 Cryptocurrencies to Watch Amid Russia’s Attack on Ukraine

3. Tether

Interest in Tether has also increased amid the Russian invasion of Ukraine. Tether is a stablecoin and the value of the coin is tied to the US dollar. Since it is tied to a tangible asset, unlike other cryptocurrencies, the coin is less susceptible to price volatility. However, amid the threat of Russian cyberattacks, one of the concerns being raised revolves around Russian hackers buying up huge amounts of the coin and then selling it to collapse the price. 

This would hurt the overall crypto system as well since coins like Tether, due to their relatively stable nature, are often used as tokens to trade between different currencies. Conversely, as Russians use the crypto verse to circumvent sanctions, they could also use the coin more and more to convert between different currencies during sanctions.