Bitcoin, Ethereum Trade In Red As Crypto Market Remains Affected By War-Triggered Volatility

The crypto market has been subject to volatility this month, and especially in the past week as Russia began to invade Ukraine and received major criticism from the majority of countries. Bitcoin opened 1.67 percent lower at $40,458 (about Rs 30.5 lakh) on Indian exchange Coinswitch Kuber. On Monday, February 28, the bitcoin price managed to hover around the $40,000 (roughly Rs.30 lakh) mark, which was first touched earlier this month in 2022.

BTC also suffered minor losses on international exchanges. For example, on CoinMarketCap and Binance, bitcoin prices fell about 1.25 percent to trade at around $37,770 (approximately Rs 28.5 lakh).

ether The market-movement trajectory reiterated that Bitcoin, According to Gadgets 360, ETH is trading at $2,753 (about Rs 2 lakh) with a fall of 3.9 percent. crypto price tracker,

Ether saw small losses of around 2.5 percent on international exchanges like Coinbase. second most valuable cryptocurrency It is trading at $2,614 (about Rs 1.98 lakh), a slight difference from its rates in India.

Binance Coin, Wave, polka dot, EarthAnd Avalanche There are other altcoins opening with losses on the last day of February.

dogecoin And Shiba Inu also failed to make any profit.

However, some altcoins saw gains, but only marginally.

stable coins like tie rope, Binance USDAnd USD coin with uniswap, cardano And solana Contributed to maintaining the greens on the crypto price chart.

Stablecoins are crypto assets that are collateralized by the value of an underlying “stable” reserve asset such as gold or the dollar.

Ukraine has been under Russian attacks for the past four days.

As intense geopolitical tensions continue to rock the high-risk stock and crypto markets, safe haven assets such as gold and fiat currencies are attracting more investors.

To collect emergency funds, Ukraine started accepting donations in cryptocurrency from around the world. over the weekend, officer Twitter The Ukraine handle posted crypto wallet addresses for donations in BTC and ETH.

According to the Blockchain Analytics Firm ovoidUkraine has already collected $8 million (about Rs 60 crore) from crypto donations.

Cryptocurrencies, unregulated and decentralized in nature, can be an economic game-changer in these difficult times. After all, digital assets are capable of facilitating instant cross-border money transfers without any restrictions.

With Ukrainian residents searching for safety and food in the backdrop of the explosions, the government of Ukraine has called for a major crypto crackdown on Russia.

Ukraine’s Deputy Prime Minister Mykhailo Fedorov has requested all major crypto exchanges to block Russian users for the time being.

The market capitalization of the crypto sector is currently $1.7 trillion (approximately Rs 1,29,35,807 crore). CoinMarketCap,

Cryptocurrency is an unregulated digital currency, is not legal tender and is subject to market risks. The information in this article is not intended to be financial advice, business advice or any kind of advice or recommendation given or endorsed by NDTV. NDTV shall not be liable for any loss arising out of any investment based on any alleged recommendation, forecast or any other information contained in the article.

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