April 1, 2022: Cryptocurrency prices continue to decline following the Russia-Ukraine War, fear of inflation, and the European Union’s cryptocurrency legislation.
The crypto market suffered a decline since the last day. Experts recorded a 4.88% decrease in the global crypto market chart with a total cap of $2.05 trillion. According to the 24h volume chart, the total crypto market experienced a 16.84% increase, approximately 131.94 billion dollars.
Today’s total DeFi volume is $19.97 billion, 15.14% of the total crypto market 24h volume. This means all crypto stable coins volume is $109.15 billion, 82.72% of the total crypto market’s 24h volume.
Bitcoin recorded $44,744 with a decrease of 4.09%; still remaining the largest cryptocurrency in the world.
The second-largest cryptocurrency, Ethereum, declined to $3,253, about 4.23%.
Other cryptocurrencies like Polkadot decreased by -6.06%, Terra down by -5.65%, Cardano fell by -5.16%, and XRP by -4.37%. Dogecoin tumble down to -5.89% experiencing the highest decline compared to other cryptocurrencies.
Binance declined by -4.89%, influencing Dubai’s business industry. Binance has partnered up with Dubai for development projects. The state hopes to become a digital asset hub.
Compared to these cryptocurrencies, Tether remained the most stable coin, up by 1.7%.
The decline in the crypto market aims to facilitate Ukraine in war.
With the deteriorating situation, the country is taking aid through cryptocurrency. According to Ukraine’s minister, the country has spent over 34 million dollars by converting the crypto tokens into the traditional currency for funds.
So far, Ukraine has received around $71.66M in donations from the crypto community; halfway through their $200M target.
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