Lagatar24 Desk
Mumbai, Mar 11: The crypto market has remained tumultuous in recent days, as Russia and Ukraine’s geopolitical rivalry escalated into a war fifteen days ago.
Bitcoin began trading today with small losses. BTC fell 4.58 percent in value to $40,354 on the Indian platform CoinSwitch Kuber (roughly Rs. 31 lakh).
On international markets, the oldest cryptocurrency followed a similar path. BTC prices are hovering around $38,627 (approximately Rs. 29.5 lakh) on Coinbase and CoinMarketCap, despite losses of up to 6%.
Following Bitcoin’s depreciation, Ether also fell in value. ETH prices plummeted 3.43 percent, reducing its trading price to $2,670 (approximately Rs. 2 lakh).
On global markets, ether prices have also dropped by roughly 4.3 percent. ETH is currently trading at $2,552 on CoinMarketCap (roughly Rs. 1.95 lakh).
Several other famous cryptocurrencies saw their prices plummet as their high-risk characteristics kept investors at a distance amid the continuous political uncertainty in the world.
Shiba Inu and Dogecoin were also included in the list of currencies that have lost value.
Despite the sector’s official acceptance in the United States and the United Arab Emirates, the crypto market has been dominated by losses.
However, several stablecoins witnessed gains but they were minimal.
The list includes Tether, USD Coin, and Binance USD.
Tron, Terra, Elrond, ZCash, and Dash, all underdog cryptocurrencies, also witnessed tiny gains.
