Business Desk, AnyTV, New Delhi
Published by: Deepak Chaturvedi
Updated Tue, 01 Mar 2022 02:36 PM IST
Summary
Crypto Market Rise Amid Russia-Ukraine War: The war between Russia and Ukraine is intensifying and its effect has created an outcry in the markets around the world. But the impact of the war on the crypto market is not visible. Despite the ongoing war between the two countries, there was a break in the crypto market on Tuesday and most of the digital currencies were seen in the green mark.
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Expansion
bitcoin investors
After the start of the war between Russia-Ukraine, lines of concern were raised on the foreheads of not only the stock market investors, but also those who invested money in the cryptocurrency market. But, on Tuesday, the crypto market looked buzzing. The price of bitcoin, the world’s most popular cryptocurrency, rose by up to 14 percent. By the time of writing the news, the price of bitcoin had risen by more than 12 percent or Rs 3,73,370 to Rs 34,35,674. At this price, the market capitalization of bitcoin also increased to Rs 61.8 trillion.
Ethereum also earned
Ethereum, the world’s second most popular cryptocurrency after bitcoin, also saw a strong rally. On Tuesday, the price of Ethereum rose by 10 percent or about Rs 20 thousand to reach Rs 2,28,008. The market capitalization of Ethereum has also increased to Rs 26.3 trillion at this price. If we talk about other cryptocurrencies included in the top 10, then the price of Binance Coin increased by 11 percent and it increased to Rs 32,145. Apart from this, a tremendous jump of 19 per cent was registered in Tera and it came down to Rs 6,930.
The rise in these digital currencies too
If we look at the other digital currencies included in the top-10, except Tether Coin, most of the other currencies were in gains on Tuesday. Tether has decreased by 2.28 percent and its price has come down to Rs 78.2. After this fall, the market capitalization of Tether has also come down to 6 trillion rupees. Barring this, Cardano gained more than 8 percent and its price went up to Rs 75.63. Polkadot rose 8 per cent to Rs 1,465. Dodgecoin registered a gain of 5 per cent and its price went up to Rs 10.38. Shiba Inu Coin saw an increase of 7.66 percent and its price came to Rs.0.002024. At the same time, the price of Litecoin increased by 6.54 percent to Rs 8808.
The fall came on the first day of the attack
The first day of Russia’s attack on Ukraine was visible on the crypto market along with the markets around the world. The cryptocurrency market also collapsed on Thursday after Russian President Vladimir Putin’s announcement. Bitcoin and the Shiba Inu were down 10 percent, DodgeCoin lost more than 12 percent. Apart from this, the prices of Solana, XRP, Terra, Avalanche, Stellar, Cardano, Polygon, Polkadot also fell by 8-15 per cent on that day.