According to CoinMarketCap, the current market valuation of all cryptocurrencies is around $1.72 trillion, down from a high of $1.77 trillion in the past 24 hours. Many of the largest and most established cryptocurrencies in the crypto business are also in the red.
Over the previous 24 hours, the worldwide cryptocurrency market capitalization increased by 2.45 percent to $1.72 trillion, while trading volumes increased by about 4,34,773.31 percent to $152.06 billion.
The entire volume in the decentralised finance (DeFi) industry during the previous 24 hours was $22.34 billion, accounting for about 14.69 percent of the 24-hour cryptocurrency trading volume. The overall volume in stablecoins was $129.63 billion, or approximately 85.25 percent of the entire amount.
On the morning of February 25, Bitcoin’s market domination increased by 0.68 percent to 42.44 percent, and the currency was trading at $38,550.47.
In terms of rupees, Bitcoin increased 3.72 percent to Rs 30,27,948, while Ethereum increased 1.54 percent to Rs 2,06,644.
Cardano fell 0.28 percent to Rs 67.89, while Avalanche jumped 2.96 percent to Rs 6,040.
Polkadot declined 0.16 percent to Rs 1,272.1 in the past 24 hours, while Litecoin fell 2.36 percent to Rs 8,201.52. Tether fell 0.47 percent to Rs 78.63 per unit. Memecoin SHIB lost 2.7 percent, while Dogecoin fell 3.08 percent to Rs 9.74. Terra (LUNA) increased 9.77% to Rs 5,120.2.
Following Russia’s invasion of Ukraine, the market worth of all cryptocurrencies has dropped by $200 billion, a decline of more than 12% in the previous 24 hours.
According to CoinMarketCap, the current market valuation of all cryptocurrencies is around $1.72 trillion, down from a high of $1.77 trillion in the past 24 hours. Many of the largest and most established cryptocurrencies in the crypto business are also in the red.
The biggest Bitcoin mining countries
Three nations account for more than half of the Bitcoin network’s computational power: the United States, Kazakhstan, and Russia. Now, the latter state is at war with Ukraine, causing crypto industry observers to keep a close eye on the network for any disturbances.
For the time being, Bitcoin mining in Russia is relatively stable, however sanctions might change the calculus for miners—who often interact with exchanges and other businesses linked to the old banking system as they swap BTC for cash.
According to the Cambridge Centre for Alternative Finance, Russia accounted for more than 11% of worldwide Bitcoin hashrate in July 2021.
