The cryptocurrency market plummets again on Thursday as Russia announces military operation over Ukraine on Thursday morning. Data reveals that more than $100 million were liquidated in one hour following the announcement. The global crypto market cap is $1.57T at the time of writing, a 9.30% decrease over the last day.
According to CNN, Russia announced the military operation. Cryptocurrencies plummeted, with the liquidation amount exceeding $100 million in one hour. https://t.co/YQ6p9Bgi0G
— Wu Blockchain (@WuBlockchain) February 24, 2022
Bitcoin (BTC)
According to the data available on CoinMarketCap, Bitcoin is about 9% down in the last 24-hours. BTC prices started Thursday, February 24, at around $37,800. Following a global market rout triggered by Russia’s move to launch military action on Ukraine on Thursday morning, the coin’s prices fell $2,000 in less than an hour.
Bitcoin is now changing hands at $34,964 at the time of writing. According to the data provided by CoinGlass, $74.67 million in Bitcoin has been liquidated in the last 4 hours.
Altcoin Market
According to CoinMarketCap, Ethereum (ETH) took a heavier toll as the second-largest crypto assets by market cap is more than 12% in the last 24-hours. ETH started Thursday at around $2,600 per coin. As the news broke out, the ETH price dropped 9% from $2,572 to $2,338 in less than four hours.
ETH is now changing hands at $2,344 at the time of writing. According to CoinGlass, $74.62 million in Ethereum has been liquidated in the last four hours.
BNB has posted nearly 12% losses in the last 24-hours. Following the news, BNB price dropped 10% on Thursday morning, February 24, from $368 to $330 at the time of writing. XRP and Solana (SOL) have registered 11.80% and 9.80% losses in the last 24-hours respectively.
Cardano (ADA) is more than 16.50% percent down to $0.7613. Avalanche (AVAX) has fallen more than 15.50 percent to $65.57 at the time of writing. The prices of Dogecoin (DOGE), Polkadot (DOT), Shiba Inu (SHIB) have dropped 15.93%, 15.08%, and 15.02% as of writing.
DeFi Market
According to DeFi Llama, the total value locked in decentralized finance protocols has pulled back below $200 billion. Over the last 24 hours, the total value locked (TVL) in the decentralized finance (DeFi) space across all DeFi chains has dropped 6.23% in the last 24-hours to $183.46 billion. On February 18, 2022, the TVL on DeFi platform on all chains was above $200 billion, down from over $251 billion on December 27.
As Wealth Growth Insights reported earlier, the Russia-Ukraine crisis resulted in nearly 10% market decline on February 18.
