Cryptocurrency Update: Cryptocurrency prices remained under pressure on Monday, March 14, amid the war in Ukraine as Russian forces continued to invade the country. Bitcoin, the world’s largest cryptocurrency by market value, also fell on the day by a slight margin. As per data on global crypto tracking platform CoinMarketCap, Bitcoin price today stood at $38,503.02, down by 1.67 per cent in the last 24 hours. It must be noted in this regard that as the tension between Ukraine and Russia rise, analysts predict that the cryptocurrency may slide towards the key $30,000-mark.
Ethereum or Ether, the second most popular cryptocurrency in the global market, also fell by 0.73 per cent in the last 24 hours to stand at $2,568.89, according to data by CoinMarketCap. However, on a weekly basis, Ether rose by 1.70 per cent.
Bitcoin slid below $40,000-level towards the last week of February as the Ukraine-Russia conflict had intensified. On the other hand, gold price jumped to its highest level since June, last year. Analysts has mentioned that Bitcoin may tumble further to drop below $30,000 as traders is expected to favour gold now.
The global cryptocurrency market also plunged again amid the Russia Ukraine crisis as most major crypto coins lost their values. The cryptocurrency market cap was standing at $1.72 trillion, according to data from CoinMarketCap. This was down by 1.44 per cent over the last 24 hours. The The global crypto volume however rose over the past day. The total volume of traded coins amounted to $65.74 billion over the course of the last day. This has fallen by 22.97 per cent over the last 24 hours, said data on the website.
“The global crypto market cap and trading volume fell over the past day. Bitcoin and Ethereum are currently trading at US$38,000 and US$2,500. BTC has continued to fluctuate between US$39,000 to US$42,000 over the past week,” said Edul Patel, CEO and co-founder of Mudrex.
“According to the market cap, the top cryptocurrencies are also running red. Cryptos, stocks, and commodities have also been experiencing sharp price movements over the past month, showing the investors’ uncertainty due to the war crisis and inflation. Due to these reasons, we could see a lot of high volatility in the crypto market this month,” he added.
Here are the top 10 cryptocurrencies and their prices on February 19, 2022 (data from coinmarketcap.com at the time of publishing this article)
Bitcoin $38,503.02 or 1.67 per cent loss in the last 24 hours
Ethereum $2,568.89 or 0.73 per cent loss in the last 24 hours
Tether $1.00 or 0.00 per cent gain/loss in the last 24 hours
BNB $368.52 or 1.89 per cent loss in the last 24 hours
USD Coin  $1 or 0.00 per cent gain/loss in the last 24 hours
XRP $0.7676 or 3.77 per cent loss in the last 24 hours
Terra $90.16 or 3.20 per cent gain in the last 24 hours
Cardano $0.8052 or 1.06 per cent gain in the last 24 hours
Solana $80.28 or 2.69 per cent loss in the last 24 hours
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