
Prices of Bitcoin and cryptocurrencies dropped significantly as the Russia-Ukraine war intensified. In global cryptocurrency markets, bitcoin was in the middle of its recent range, trading just below $38,000. Other major altcoins have plummeted.
BITCOIN, ETHER DOWN
Bitcoin was down by over two per cent at $37,803.62. The second largest cryptocurrency by market capitalization, Ethereum, was down over three per cent at $2,610.33.
OTHER CRYPTOCURRENCIES FALL
XRP was down by over two per cent, Terra fell by three per cent, Solana crashed by 0.64 per cent, Avalanche was over five per cent, Polkadot fell by two per cent.
Other cryptocurrencies, Stellar was down by over three per cent, Dodgecoin over one per cent, Shiba Inu fell by over one per cent, and Polygon dropped over one per cent.
GLOBAL CRYPTO VOLUME TANKS
“The global crypto volume fell by nearly 2 per cent, while the trading volume rose by 25 per cent over the past 24 hours. Bitcoin dipped last Thursday while it gained momentum and has been trading above US$37,000 over the weekend,” Edul Patel, CEO and Co-founder, Mudrex said.
“Immediate resistance of US$40,000 can stall the current price bounce. The second-largest cryptocurrency, Ethereum, is currently trading at the US$2,700 level. According to the market cap, major cryptocurrencies fell due to the war crisis between Russia and Ukraine. The situation is creating tension among crypto traders. The coming days would be crucial for the entire crypto spectrum,” Edul Patel said.
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