According to CoinMarketCap, the total market capitalization of all cryptocurrencies is currently around $1.72 trillion, down from a high of $1.77 trillion just 24 hours ago. Many of the crypto industry’s biggest and well-known cryptocurrencies are also in the red.
The worldwide cryptocurrency market capitalization increased 2.45 percent to $1.72 trillion in the last 24 hours, while trading volumes increased by 4,34,773.31% to $152.06 billion.
The entire volume in the decentralised finance (DeFi) area was $22.34 billion in the last 24 hours, accounting for 14.69 percent of the 24-hour bitcoin trading volume. The overall volume in stablecoins was $129.63 billion, or about 85.25 percent of the total volume in bitcoin.
On the morning of February 25, Bitcoin’s market domination increased by 0.68 percent to 42.44 percent, and the currency was trading at $38,550.47.
Bitcoin increased 3.72 percent to Rs 30,27,948 in rupees, while Ethereum increased 1.54 percent to Rs 2,06,644.1.
Avalanche jumped 2.96 percent to Rs 6,040, while Cardano fell 0.28 percent to Rs 67.89. In the last 24 hours, Polkadot declined 0.16 percent to Rs 1,272.1 while Litecoin fell 2.36 percent to Rs 8,201.52. Tether was trading at Rs 78.63, down 0.47 percent.
Memecoin SHIB was down 2.7 percent to Rs 9.74, while Dogecoin was down 3.08 percent to Rs 9.74. Terra (LUNA) is now trading at Rs 5,120.2, up 9.77 percent.
Following Russia’s invasion of Ukraine, the market capitalization of all cryptocurrencies has plummeted by $200 billion, a decline of more than 12% in the last 24 hours.
According to CoinMarketCap, the total market capitalization of all cryptocurrencies is currently around $1.72 trillion, down from a high of $1.77 trillion just 24 hours ago. Many of the crypto industry’s most well-known and well-known cryptocurrencies are also in the red.
Three countries account for more than half of the Bitcoin network’s computational power: the United States, Kazakhstan, and Russia. Now that the latter state is at war with Ukraine, crypto industry analysts are keeping a close eye on the network for any potential interruptions.
For the time being, Bitcoin mining in Russia is relatively stable, though sanctions could change the equation for miners—who trade BTC for cash on a daily basis with exchanges and other companies connected to the traditional financial system.
According to the Cambridge Centre for Alternative Finance, Russia accounted for approximately 11% of worldwide Bitcoin hashrate in July 2021. Hashrate is a measure of the network’s computational capacity, since “miners” run software on specialised hardware in an attempt to earn newly minted BTC, while also assisting in the network’s security.
Coinbase surprised analyst expectations by reporting sales of nearly $2.5 billion in the most recent quarter, with a monthly active user base of 11.4 million. The revenue figure was the largest for Coinbase ever, above the $1.97 billion consensus projection, while the user count, which was also a record, reversed a recent slide that saw the company’s user base drop to 7.4 million in Q3.
Coinbase posted profits of $840 million last quarter, which was double the previous one, but shy of the record $1.6 billion it made in the second quarter of last year.
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