Despite escalating tensions between Russia and Ukraine, cryptocurrency tokens were flying high on Tuesday, with bitcoin topping the gainers.
As European and American sanctions began to cut into Russia’s economy, Russia and Ukraine delegates adjourned their inaugural peace negotiations on the Belarus border without a conclusion to report back to their governments.
The prices of all of the leading digital tokens were rising. Terra increased by 24% to become the seventh most valuable token, followed by a 19% increase in Avalanche. Bitcoin increased by 15%, while Shiba Inu increased by 10%.
The worldwide cryptocurrency market worth reached $1.9 trillion today, up approximately 12% in the past 24 hours.
Total bitcoin trading volume increased 34% to $109.19 billion.
According to CoinMarketCap, the worldwide crypto market cap is $1.93 trillion, a 1.10 percent gain over the previous day. Over the previous 24 hours, the overall crypto market volume has decreased by 4.05 percent to $104.67 billion.
The entire volume in DeFi is presently $17.55 billion, accounting for 16.77 percent of the overall 24-hour volume in the crypto market. The overall volume of all stable currencies is now $87.52 billion, accounting for 83.62 percent of the entire 24-hour volume of the crypto market.
Bitcoin’s price is at Rs 34.33 lakh, giving it a 43.30 percent market share over other cryptocurrencies. This is a 0.35 percent gain over the previous day.
Ether, the token tied to the ethereum blockchain and the second-largest cryptocurrency by market value, declined roughly 7% to $2,533.46. Meanwhile, the price of Dogecoin has dropped by more than 7% to $0.12, while the price of Shiba Inu has dropped by around 8% to $0.000024. Other currencies’ performance suffered as well, with Solana, XRP, Terra, Avalanche, Stellar, Cardano, Polygon, and Polkadot values falling by 5-12%.
The top ten cryptocurrencies and their values as of yesterday are shown below
Bitcoin $36,693.78 or 6.43 per cent loss in the last 24 hours
Ethereum $2,533.46 or 7 per cent loss in the last 24 hours
Cardano $0.8354 or 13.25 per cent loss in the last 24 hours
Tether $1.00 or 0.01 per cent gain in the last 24 hours
Terra $49.85 or 1.43 per cent loss in the last 24 hours
XRP $0.682 or 13.99 per cent loss in the last 24 hours
Solana $82.80 or 12.34 per cent loss in the last 24 hours
Avalanche $68.56 or 15.61 per cent loss in the last 24 hours
Binance $1.00 or 0.04 per cent loss in the last 24 hours
Cryptocurrency in Russia
Binance, the world’s largest crypto exchange, has stated that it will not freeze all Russian accounts after Ukraine demanded a blanket ban from major crypto exchanges.
Western nations, particularly the United States and the United Kingdom, have slapped broad financial sanctions on Russia in response to its invasion of Ukraine, with key Russian institutions barred from using the SWIFT international payments system.
Trading volumes between the Russian rouble and the Tether cryptocurrency increased substantially on Monday, showing that Russians are becoming more interested in cryptocurrency after Western sanctions weakened the local currency.
