As Russia launched a “special military operation” against Ukraine, the crypto market plunged down. The price of Bitcoin fell 8.12 per cent in the last 24 hours; Ethereum was down 13.28 per cent.
Russia-Ukraine war has impacted in the crypto currency market, global crypto market cap slid to as low as $1.57 trillion, losing almost 9.66 per cent in the last 24 hours. It is suspected that Russia may use crypto currency to blunt the impact of the sanctions through bypassing control points. It may also ink deals with anyone globally working with them via digital currencies, Business Today reported.
In the cryptocurrency market, the price of Bitcoin (BTC) was down by 8.12 per cent in the last 24 hours, while it was trading at $35,082.66 at 5:00 pm IST. Its dominance in the crypto market is currently at 42.42 per cent, up by 0.73 per cent in the last 24 hours, according to Coinmarketcap.com.
Ethereum (ETH) was trading at $2,350.25, with a fall of 13.28 per cent in the last 24 hours, while Binance Coin (BNB) was trailing by 12.34 per cent over the same period and was trading at $332.97. Solana (SOL) was down by 10.44 per cent to $80.43 and Cardano (ADA) was down by 18.49 per cent to $0.7544.
Among meme coins, Dogecoin was down by 17.90 per cent, and was trading at $0.1107 at 5:00 pm. Rival Shiba Inu was down by 16.92 per cent in the last 24 hours and was trading at $0.00002135. Dogelon Mars was down by 20.52 per cent and was trading at $0.0000006486, while Samoyedcoin was trading at $0.01839, recording a fall of 7.88 per cent in the last 24 hours.
Nolian Credits (NLCR) became the biggest gainer, recording a rise of 314.33 per cent. It was trading at $0.004037 at 5:00 pm, as per Coinmarketcap data. In contrast, MekaMiners(MEKA) witnessed the maximum loss, falling 99.51 per cent, it was trading at $0.0001696, shows the data in CoinMarket Cap.
India’s crypto platform, CoinSwitch Kuber has launched Recurring Buy Plan, a simple and planned way to purchase Crypto assets in India. Exchange said that they have launched with aim to enable users to beat market volatility and avoid making impulsive buying or selling decisions.
"At CoinSwitch, we want to help users across their Crypto journey. Crypto is an emerging but attractive asset class and has a higher degree of volatility in comparison to traditional assets. The CoinSwitch Recurring Buy Plan will allow users to purchase Crypto in a planned manner and enable the user to avoid the impulse to time the market and make emotional trading decisions. It will also empower users to explore this new asset class in a more structured and disciplined manner," said Ashish Singhal, Founder and CEO, CoinSwitch.