Cryptocurrency update: On Friday, March 18, Bitcoin fell slightly amid volatile markets as tensions between Russia and Ukraine continued for over a month. The world’s largest cryptocurrency by market value has fallen 0.02% in the past 24 hours to $40,755.47 at the time of writing, according to global crypto tracking website CoinMarketCap . It should be noted that Bitcoin has gained almost 5% over the past seven days.
Ether, the second most popular cryptocurrency, jumped 1.64% in one day to $2,798.10, according to CoinMarketCap. On a weekly basis, Ether gained over 8%.
Bitcoin has slipped below the $40,000 level over the past month as the conflict between Ukraine and Russia escalated. On the other hand, the price of gold jumped to its highest level since June of last year. Analysts previously mentioned that Bitcoin could fall further to fall below $30,000 as traders are now expected to favor gold.
“The U.S. Federal Reserve raised interest rates for the first time since 2018, from 0.25% to 0.5%, to combat soaring inflation rates. interest rate tends to signal uncertainty for the crypto market as investors have better access to yield from lower risk avenues in the market,” the CoinDCX research team said on the market move from cryptography a day ago.
“Yet, in contrast, the past 24 hours has seen the crypto market respond in an atypical way, trending more to the upside to continue its uptrend in the greens,” he said.
This could be a case of delayed market reaction and investors may only be beginning to see its true impact on crypto down the line, he added.
The global cryptocurrency market also surged slightly again despite the Russian-Ukrainian crisis, with most major crypto coins gaining in value. The market capitalization of the cryptocurrency stood at $1.83 trillion, according to data from CoinMarketCap. This has increased by 0.26% in the past 24 hours. Overall crypto volume, however, has plunged over the past day. The total volume of coins traded stood at $78.85 billion in the last day. That’s dropped 16.77% in the past 24 hours, according to website data.
Here are the top 10 cryptocurrencies and their prices as of March 18, 2022 (data from coinmarketcap.com at the time of publication of this article)
Bitcoin $40,755.47 or 0.02% loss in the last 24 hours
Ethereum $2,798.10 or 1.64% gain in the last 24 hours
Tether $1.00 or 0.01% gain in the last 24 hours
BNB $387.79 or 0.67% gain in the last 24 hours
USD Coin $0.9997 or 0.02% loss in the last 24 hours
XRP $85.62 or 2.14% loss in the last 24 hours
Terra $90.16 or 3.20% gain in the last 24 hours
Cardano $0.8317 or 1.59% loss in the last 24 hours
Solana $86.56 or 0.99% loss in the last 24 hours
Avalanche $79.84 or 5.05% gain in the last 24 hours
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