Bitcoin slumps, Ethereum down
The world’s most popular cryptocurrency, Bitcoin, was down by 7.02% at $40589.4
The global cryptocurrency market has been trading in the red after Russian president Vladimir Putin threatened to invade Ukraine again. Bitcoin’s price slumped below $41,000 as investors also remained concerned about inflation. Ethereum and other major altcoins plummeted during this period of uncertainty as well.
Bitcoin, the world’s most popular cryptocurrency, lost 7.2% of its value in one day and is currently valued at $40,589. Ethereum (the second largest cryptocurrency) also dropped by 5.99%.
The XRP cryptocurrency was down by 4.82% in the past 24 hours, with other popular coins like Stellar and Cardano also on a downward trend. This has been attributed to tensions between Russia and Ukraine as well as concerns about inflation levels among investors.
According to the market cap, top cryptos had a negative change in value. This drop-in crypto-market performance is due to current tensions between Russia and Ukraine.