Cryptocurrencies See Sell-Off On Ukraine-Russia Tensions; Cardano Slumps 14%

Escalating geopolitical tensions have hurt all major asset classes including cryptocurrencies. Russian President Vladimir Putin announced on national TV around 6 a.m. local time the start of a "special military operation" in Ukraine designed to achieve the "demilitarization and denazification of Ukraine," reported the New York Times.

Cryptocurrencies See Sell-Off On Ukraine-Russia Tensions; Cardano Slumps 14%

Bitcoin at the time of writing this copy at around 10:58 am (IST) quoted at a price of $34750, down over 8%, likewise other altcoins suffered big losses to the extent of 14% on some of the digital assets namely Cardano, Internet Computer among others.

On the sharp fall, the global crypto market cap has come down by a huge over 8% to $1.5 trillion. The total crypto market volume over the last 24 hours is $98.79B, which makes a 24.60% increase.

Bitcoin in rupee terms has come in price to Rs. 27,74,615, down 8%.

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