Cryptocurrency Prices Today: Crypto Markets Are Bleeding As Bitcoin, Ethereum Plunge Over Ukraine's Crisis

The global cryptocurrency market capitalization fell by 5.78 percent to $1.61 trillion in the past 24 hours, while trading volume declined nearly 99.98 percent to $12.72 million.

This slump in the crypto market was in line with the path of the global market starting with Russia's move to launch military action on Ukraine on Thursday morning.

In the past 24 hours, the total volume of the decentralized finance (DeFi) sector was $12.87 billion, and the total volume of stablecoins was $72.07 billion.

Bitcoin's market dominance fell 0.16 percent to 41.76 percent on the morning of February 24, and the currency was trading at $35,441.27.

In rupee terms, bitcoin was trading 7.12 per cent lower at Rs 27,70,309, while Ethereum was trading 8.04 per cent lower at Rs 1,89,999.

Cardano fell 10.88 per cent to Rs 63.5 and Avalanche fell 12.27 per cent to Rs 5,206.001. In the last 24 hours, Polkadot fell 7.26 per cent to Rs 1,188 and Litecoin fell 7.98 per cent to Rs 7,700. Tether closed 0.52 per cent lower at Rs 78.42

Memecoin SHIB fell 7.28 per cent, while Dogecoin was trading 9.8 per cent lower at Rs 9.2. Terra (Luna) fell 2.81 per cent to Rs 4,251.06

According to a report from crypto financial intelligence provider Coinmetrics this week, its supply growth has remained stagnant since December of last year, despite the rising popularity of bitcoin in 2021.

Wrapped Bitcoin is an ERC-20 Ethereum token that is 1:1 backed by Bitcoin (BTC). All WBTC can be redeemed for custodial holding of actual BTC in a multi-signature wallet controlled by BitGo.

About 1.4% of the total bitcoin supply of approximately 19 million BTC is transmitted on Ethereum via WrappedBitcoins. Of those 263,000-odd tokens, 66 percent are locked in smart contracts, providing evidence that merchants are accessing assets on decentralized exchanges and lending protocols.

The amount of WBTC in circulation more than doubled from January to December 2021, but has since remained stable at around 260,000 units.

This reflects a similar trend in the DeFi sector. As demonstrated by Defilama, the total value locked in the decentralized finance protocol has fallen below $200 billion – from $251 billion as of December 27th.

According to reports, a gunman took a man hostage at an Apple Store in Amsterdam yesterday and demanded €200 million ($230 million) in cryptocurrency. The 27-year-old broke into the shop with a gun on Tuesday afternoon and took the Bulgarian man hostage.

Local media reported that the suspect threatened to blow himself up if his demand was not met. Reuters reported today that Dutch police said he had explosives all over his body.

However, the gunman, who sought a safe exit from the building, did not specify which cryptocurrency he had asked for the ransom.

Cryptocurrency

Price (in Rs)

24-hour change (in percent)

Bitcoin

27,70,309

-7.12

Ethereum

1,89,999

-8.04

Cardano

63.5

-10.88

Tether

78.42

-0.52

Solana

6,100

-10.95

Avalanche

5,206.001

-12.27

Litecoin

7,700

-7.98

XRP

50.44

-10.0

Axie

3,525

-10.98

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