Cryptocurrency Update: Cryptocurrency prices continued to be under pressure during the war in Ukraine on Monday, March 14, as Russian forces continued to invade the country. Bitcoin, the world’s largest cryptocurrency by market value, also fell by a small margin on the day. According to data on global crypto tracking platform CoinMarketCap, Bitcoin price stood at $38,503.02 today, down 1.67 percent in the past 24 hours. In this regard, it should be noted that as tensions mount between Ukraine and Russia, analysts predict that the cryptocurrency could slide towards the top $30,000.
Ethereum or Ether, the second most popular cryptocurrency in the global market, also fell 0.73 percent in the past 24 hours to $2,568.89, according to data from CoinMarketCap. However, on a weekly basis, Ether rose 1.70 percent.
Bitcoin slipped below the $40,000 level to the last week of February as the conflict between Ukraine and Russia intensified. On the other hand, the gold price jumped to its highest level since June last year. Analysts have reported that Bitcoin could fall further below $30,000 as traders are now expected to favor gold.
The global cryptocurrency market also collapsed again during the crisis in Russia, Ukraine, as most major cryptocurrencies lost their value. The cryptocurrency market cap was $1.72 trillion, according to data from CoinMarketCap. This had fallen by 1.44 percent in the past 24 hours. However, global crypto volume has surged in the past day. The total volume of coins traded in the past day was $65.74 billion. This is down 22.97 percent in the past 24 hours, according to data on the website.
†Global crypto market capitalization and trading volume have fallen over the past day. Bitcoin and Ethereum are currently trading at $38,000 and $2,500. BTC has hovered between $39,000 and $42,000 in the past week,” said Edul Patel, CEO and co-founder of Mudrex.
“According to the market capitalization, the top cryptocurrencies also turn red. Cryptos, stocks and commodities have also seen sharp price movements in the past month, pointing to investor uncertainty due to the war crisis and inflation. For 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 as of February 19, 2022 (data from coinmarketcap.com at the time of publishing this article)
Bitcoin $38,503.02 or 1.67 percent loss in the last 24 hours
Ethereum $2,568.89 or 0.73 percent loss in the last 24 hours
Tether $1.00 or 0.00 percent gain/loss in the last 24 hours
BNB $368.52 or 1.89 percent loss in the last 24 hours
USD Coin $1 or 0.00 percent gain/loss in the last 24 hours
XRP $0.7676 or 3.77 percent loss in the last 24 hours
Terra $90.16 or 3.20 percent gain in the last 24 hours
Cardano $0.8052 or 1.06 percent gain in the last 24 hours
Solana $80.28 or 2.69 percent loss in the last 24 hours
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