Lagatar24 Desk
Mumbai, Feb 25: Following Russia’s invasion of Ukraine, the global crypto market has been hit hard in the last 24 hours, with investors expecting a market crash due to a drop in value across key crypto assets.
However, the market has made a comeback. Within hours of the Russian invasion yesterday, the world’s most valuable cryptocurrency saw a 7% drop in value, but then managed a significant swing, increasing 10.18 percent in value over the last 24 hours.
On the Indian exchange CoinSwitch Kuber, Bitcoin is currently worth $40,709 (approximately Rs. 31 lakh).
Ether, the second-largest cryptocurrency by market capitalization, also succumbed in the aftermath of the attack on Ukraine, but has since made a strong rebound.
At the time of writing, Ether is at $2,723 (about Rs. 2 lakh) on CoinSwitch Kuber, while its value on global exchanges is hovering around $2,607 (roughly Rs. 2 lakh), up 9.77 percent in the last 24 hours. In comparison to the price of Ether a week ago, CoinGecko statistics shows that the cryptocurrency is still down 9.4%.
As the global crypto market valuation increased by roughly 3% in the last 24 hours, all of the leading digital tokens were in the green. Avalanche and Terra are leading the green surge, as has been the case for the past week. Polygon, Polkadot, Cardano, and Solana were among the first to do so.
Meme coins Shiba Inu and Dogecoin have increased in value during the last 24 hours. After growing by 5.62 percent in the last 24 hours, Dogecoin is now worth $0.13 (approximately Rs. 10). Shiba Inu has risen 5.83 percent in the last 24 hours to $0.000025 (approximately Rs. 0.002).
