Crypto Market Bleeds As Missiles Rain Down On Ukraine

On the heels of Ukraine’s economic troubles, Bitcoin and Ethereum have taken a pounding in the crypto market. According to multiple news reports Thursday, around two dozen Russian cruise missiles have hit specific targets in two cities in Ukraine, including its capital, Kyiv. Russia’s attack undoubtedly is the cause of the current tremor shaking the world’s crypto and stock markets. In the previous 24 hours, the crypto market was valued at $1.66 trillion, down $1.4 trillion from the $3.01 trillion it registered in November as transaction volumes plunged. Stablecoins accounted for $72.07 billion in total volume during the previous 24 hours, while the total volume of the DeFi space was $12.87 billion. Related Article | Ukraine Is Better ‘Armed’ Than Russia In Crypto Adoption As War Breaks Out Crypto Market Hemorrhages The price of Bitcoin as of this writing has plunged to $34,852.90, down 6.48%, while the price of Ethereum is at $2,343.16, down 12.02%. Coins such as Cardano lost 10.88% of their value, and Avalanche (AVAX) was down 12.27%. As of yesterday, Polkadot (DOT) price dropped by 7.26%, while Litecoin (LTC) shed 7.98%, Memecoin Shiba Inu (SHIB) fell 7.28%, and Dogecoin (DOGE) retreated by 9.88%. BTC total market cap at $667.125 billion in the daily chart | Source: TradingView.com Wrapped Bitcoin Supply Stagnant According to research from cryptocurrency financial intelligence service CoinMetrics...