London, (Business News Report)|| Cryptocurrencies have witnessed a noticeable decline Thursday morning with the continued fears of a possible Russian invasion of Ukraine, despite the Russian calm.
The market value of digital currencies fell by 4.6% to reach $1.90 trillion, while trading volume reached $76.81 billion in the last 24 hours.
Bitcoin, the most popular and famous currency in the world, fell slightly, to record about $43,922.77.
Despite the decline of Bitcoin, the strong profits from Amazon, which allows the purchase of its products with Bitcoin, contributed to limiting the losses of the digital currency.
Cryptocurrencies also received some support from news rumors about the withdrawal of part of the Russian army from the borders of Ukraine today. The news lured investors to risk appetite and abandoning hedging in the precious metal (gold). Investors returned to the cryptocurrencies to capture additional gains before geopolitical tensions return.
Bitcoin has lost more than 50% of its value since its record high in November.
The cryptocurrency’s drop since its high in November has wiped out more than $600 billion in market capitalization, and lost more than $1 trillion from the overall crypto market.
Prices of cryptocurrencies
- The price of the digital currency Bitcoin BTC decreased by 0.61% to reach $43914.20.
- The price of Ethereum ETH fell 0.86% to $3,122.98.
- Meanwhile, the price of the Binance coin BNB lost 0.78% to reach $427.94.
- The price of the cardano ADA coin lost 1.88% to record $1.08.
- XRP fell 1.45% to $0.8256.
- The price of the Polkadot DOT coin fell 1.66% to $19.58.
- The price of the DOGE coin (Dogecoin) decreased by 0.66% to $ 0.1492.
- The price of Litecoin (LTC) fell 2.02% to reach $127.40.
- The price of Chainlink LINK coin lost 1.33% to $16.99.
