Cryptocurrency Prices Today: Crypto markets bleed as Bitcoin, Ethereum fall on Ukraine woes
The global cryptocurrency market-capitalisation fell 5.78 percent over the last 24 hours to $1.61 trillion, while trading volumes were down to about percent to $12.72 million, falling by around 99.98 percent.
This slump in the crypto market was in sync with a global market rout triggered by Russia's move to launch military action on Ukraine on Thursday morning.
Over the last 24 hours, the total volume in the decentralised finance (DeFi) space stood at $12.87 billion, the total volume in stablecoins stood at $72.07 billion.
Bitcoin's market dominance fell 0.16 percent to 41.76 percent and the currency was trading at $35,441.27 on the morning of February 24.
In rupee terms, Bitcoin fell 7.12 percent to trade at Rs 27,70,309 while Ethereum dipped 8.04 percent to Rs 1,89,999
Cardano was down 10.88 percent to Rs 63.5 and Avalanche fell 12.27 percent to Rs 5,206.001. Polkadot fell 7.26 percent to Rs 1,188 and Litecoin was down 7.98 percent to Rs 7,700 in the last 24 hours. Tether was down 0.52 percent to Rs 78.42
Memecoin SHIB fell 7.28 percent, while Dogecoin was down by 9.8 percent to trade at Rs 9.2. Terra (LUNA) fell 2.81 percent to Rs 4,251.06
Despite Wrapped Bitcoin's surging popularity in 2021, its supply growth has stagnated since December of last year, according to a report from crypto financial intelligence provider CoinMetrics this week.
Wrapped Bitcoin is an ERC-20 Ethereum token backed 1:1 by Bitcoin (BTC). All wBTC is redeemable for actual BTC held custodial in a multi-signature wallet controlled by BitGo.
About 1.4 percent of the total Bitcoin supply of nearly 19 million BTC is circulating on Ethereum through Wrapped Bitcoin. Of those 263,000-odd tokens, 66 percent are locked up in smart contracts, providing evidence
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