Cryptocurrency Update: Amid the war in Ukraine, cryptocurrency prices remained under pressure on Monday, March 14 as the Russian military continued to invade the country. Bitcoin, the world’s largest cryptocurrency by market cap, also fell by a small margin that day. According to data from global cryptocurrency tracking platform CoinMarketCap, the price of bitcoin is today at $38,503.02, down 1.67 percent over the past 24 hours. In this regard, it should be noted that as tensions between Ukraine and Russia increase, analysts are predicting that the cryptocurrency could head towards the key $30,000-mark.
Ethereum, or Ether, the second most popular cryptocurrency in the global market, fell 0.73 percent to $2,568.89 in the past 24 hours, according to data from CoinMarketCap. However, Ether rose 1.70 per cent on a weekly basis.
Bitcoin fell below the $40,000 level in the last week of February as the Ukraine-Russia conflict intensified. On the other hand, the price of gold reached its highest level since June last year. Analysts noted that bitcoin could drop below $30,000 as traders now expect it to favor gold.
The global cryptocurrency market also fell again amid Russia’s Ukraine crisis as most of the major crypto coins lost their value. According to data from CoinMarketCap, the cryptocurrency market cap stood at $1.72 trillion. It was 1.44 per cent lower in the last 24 hours. However, global crypto volumes have increased over the past day. The total volume of coins traded during the last day was $65.74 billion. According to website data, it has declined 22.97 percent in the last 24 hours.
,The global crypto market cap and trading volume have declined in the past day. Bitcoin and Ethereum are currently trading at $38,000 and $2,500. “BTC has continued to fluctuate between $39,000 and $42,000 over the past week,” said Edul Patel, CEO and co-founder of Mudrex.
“By market cap, top cryptocurrencies are also running red. Crypto, stocks and commodities have also been experiencing sharp price volatility over the past month, reflecting investor uncertainty due to the war crisis and inflation. For these reasons, we could see a lot of volatility in the crypto market this month,” he said.
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 lost $38,503.02 or 1.67 percent in the last 24 hours
Ethereum lost $2,568.89, or 0.73 percent in the last 24 hours
Tether $1.00 or 0.00 percent gain/loss in the last 24 hours
BNB has lost $368.52 or 1.89 percent in the last 24 hours
USD Coin $1 or 0.00 percent gain/loss in the last 24 hours
XRP Lost $0.7676 or 3.77 percent in the last 24 hours
Terra up $90.16 or 3.20 percent over last 24 hours
Cardano is up $0.8052 or 1.06 percent in the last 24 hours
Solana lost $80.28 or 2.69 percent in the last 24 hours
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