Bitcoin plunges as Russia-Ukraine war triggers panic in cryptocurrency market
India Today
The world's most popular cryptocurrency, Bitcoin, fell by over 8 per cent at $34,932.07.
Bitcoin on Thursday plunged as the global cryptocurrency market was trading in the red after Russian President Valadmir Putin declared war on Ukraine.
The world's most popular cryptocurrency, Bitcoin, fell by over 8 per cent at $34,932.07.
Ethereum, the second largest cryptocurrency by market capitalization, dropped by over 10 per cent $2,376.19.
Other popular cryptocurrencies such as Dodgecoin was by over 12 per cent, Shiba Inu fell by over 10 per cent, Polkadot fell by over 10 per cent, and Polygon dropped by over 12 per cent.
XRP was down by over 9 per cent, Terra was down by more than one per cent.
"The global trading volume fell by nearly 191 per cent in the past 24 hours. Bitcoin, Ethereum, and other major altcoins are running in red after Russia declares war against Ukraine," Edul Patel, CEO and Co-founder, Mudrex said.
"The situation may have a sound impact on the crypto market going down for a few weeks. Cryptocurrencies have been witnessing the effect of war tensions between Russia and Ukraine for the past few weeks causing high volatility in the market. This crucial step is not only going to impact the cryptocurrencies but also the significant equities in the financial market," Patel said.
