How the Russia-Ukraine conflict has affected the crypto market?

Bitcoin had fallen to its lowest in a month, as Russia fired missiles on Ukraine and intensified attack. However, in the last 24 hours, Bitcoin has risen slightly today and stands at Rs. 28,99,206 up from Rs. 26,00,648 on February 24^th.

According to CoinMarketCap, the global crypto market cap stands at $1.72 trillion, an increase of 11.28% over February 24^th. The total crypto market volume stands at $124.75 Billion, an increase of 14.72%.

Another popular currency, Ethereum is also in the green and now stands at Rs. 1,97,397 as opposed to the previous close of Rs. 1,95,674.

Several other coins like Litecoin, Cardano, Dogecoin are in the red. Litecoin is currently at Rs. 7790, down from a previous close of Rs. 7, 849.

Vladimir Putin, Russian President, announced military operation in Ukraine on Thursday, thereby sending the global markets into a tizzy. Putin also warned other countries of “consequences they have never seen” should they interfere in any form in the Russia-Ukraine conflict.

Bitcoin’s fall below the $40,000 mark undermines the stand that cryptocurrencies offer a stable ground in times of trouble.