The cryptocurrency market lost almost $100 billion in 24 hours

The cryptocurrency market lost almost $100 billion in 24 hours

According to Decrypt, the market capitalization of the crypto industry fell by almost 4% (about $98 billion) in 24 hours. Bitcoin also lost 4% in price, from $44,000 to $41,000. The price of ether is down 5%, while it jumped to $3,000 on Thursday afternoon.

Today, ETH is trading around $2,700.
Prices of other cryptocurrencies have also declined over the past 24 hours. Solana is down 6.8% and is now trading just above $92. Polkadot and Avalanche, the so-called “ether killers,” have lost about 3.5% each over the past day.

The fall is associated with the events in Ukraine, as well as calls for cryptocurrency exchanges to block the accounts of users from Russia. Former presidential candidate Hillary Clinton said she was disappointed in cryptocurrency exchanges that refused to ban Russian users.

As far as we know, crypto exchanges Kraken, Binance and Coinbase have so far refused to block clients from Russia, claiming that there is no legal basis for this. However, some exchanges have announced that they will comply with the sanctions if they affect certain individuals.

Recall, earlier the cryptocurrency exchange LocalBitcoins announced that it would waive the commission for users from Ukraine – no matter what country they are in.

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Written by Renat
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