Cryptocurrency prices today: Bitcoin, Ethereum tank

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The cryptocurrency market was trading lower on Monday amid investor concerns about ongoing inflationary pressure and geopolitical tensions between Russia and Ukraine.

Russian military exercises indicate that an invasion is imminent. Trading volumes in the crypto industry have halved due to high volatility.

Barring meme tokens like Shiba Inu and Dogecoin, all other top digital tokens were trading with cuts in early trade on Monday. Dogecoin and Shiba Inu jumped marginally, whereas XRP and Solana dropped up to 5 percent.

While Bitcoin’s price has meandered the last few days, the largest cryptocurrency by market value has staged a modest under-the-radar recovery from its wintertime swoon.

Bitcoin, the largest cryptocurrency by market cap, was down by 0.53 percent at $41,971.02. Ethereum was down by 1.77 percent at $2,863.29.

Cryptocurrency

While XRP was down by 3.25 percent at $0.792912, Solana was down by 1.98 percent at $93.34.

Terra was down by 1.25 percent at $52.77, Cardano fell by 1.46 percent to $1.03. Avalanche fell by 5.21 percent at $77.69, Stellar was down by 3.44 percent at $0.207916, and Polkadot was down by 4.23 percent at $18.25.

While Polygon’s price fell by 3.31 percent at $1.63, Chainlink was down by 3.14 percent at $15.40.

Other altcoins, Dogecoin was down by 0.78 percent at $0.145381 and Shiba Inu fell by 2.34 percent at $0.000029.

Memecoin SHIB rose 2.96 percent, while Dogecoin rose by 1.68 percent to trade at Rs 11.68. Terra (LUNA) fell 1.66 percent to Rs 4,130.14

Coinbase made the first big crypto splash during this year’s Super Bowl after the company aired a bold commercial that consisted of nothing but a QR code floating around the screen for 60 seconds.

The ad also quickly flashed a Coinbase URL at the end, leading to a website displaying a promotion for $15 in free Bitcoin for new customers who sign up in the next two days. 

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