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Benzinga
Benzinga
Business
Melanie Schaffer

Ethereum Slides, Gold Surges As Russia-Ukraine Tension Ratchets Up: A Technical Analysis

Ethereum (CRYPTO: ETH) began to decline rapidly at 1:30 p.m. EST on Friday after PBS news reporter Nick Schifrin said on Twitter that, according to six U.S. and western officials, Russia will begin to invade Ukraine next week, beginning with two days of aerial bombings and electronic warfare.

At that same time, the SPDR Gold Trust (NYSE: GLD) began to shoot up, rising over 1% higher within about 20 minutes. This indicates gold is currently considered the better safe haven asset over cryptocurrencies.

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