Cryptocurrency market registers sharp decline on second day in a row

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Cryptocurrency market registers sharp decline on second day in a row; check price here

The crisis between Ukraine and Russia hit the cryptocurrency market on the second straight day on Saturday.

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March 5, 2022 11:34 IST
Cryptocurrency market registers sharp decline on second day in a row; check price here
Cryptocurrency market registers sharp decline on second day in a row; check price here

New Delhi: The crisis between Ukraine and Russia hit the cryptocurrency market on the second straight day on Saturday. On Day 9 of the invasion, Russia captured Ukraine’s Zaporizhzhia nuclear power plant. It is considered Europe’s largest nuclear plant.

The global cryptocurrency market cap declined by 4.6 per cent to $1.82 trillion in the past 24 hours. The trading volume of total cryptocurrency in the last day was recorded at $93.5 Billion, according to Coingecko.

The market dominance of Bitcoin was recorded at 40.5 per cent while Ethereum dominance is at 17.3 per cent.

Bitcoin, Ethereum

The biggest cryptocurrency as per market capitalisation, Bitcoin was down by 6.0 per cent and it was trading at $38,927.

The second-largest cryptocurrency after Bitcoin as per its market capitalisation, Ethereum tanked by 5.4 per cent and was trading at $2,625.

In rupee terms, Bitcoin was trading at 30,98,223 following the decline of 5.17 per cent in the last 24 hours, while Ethereum weakened by 3.39 per cent and was trading at 2,08,075.

Price of other famous cryptocurrencies 

Among other cryptocurrencies, XRP was plunged by 2 per cent to Rs 57, Solana fell by 3.16 per cent to Rs 7,000 , Cardano (ADA) was down by 1.57 per cent to Rs 67, Polkadot (DOT) was down by 3.37 per cent to Rs 1314, Steller fell by 3.43 per cent to Rs 13 and Avalanche (AVAX) was down by 1.95 per cent to 5961.

Other cryptocurrencies, Dogecoin went down by 2.02 per cent to trade at Rs 9, Shiba Inu was trading at Rs o.0019 due to a reduction of 1.85 per cent.

RBI also set to lunch digital rupee

Notably, RBI governor Shaktikanta Das earlier said Cryptocurrency is a threat to financial stability as its privately created. However, RBI will launch India’s first digital rupee by the year 2022-23, calling it a digital version of the normal rupee.

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