Cryptos’ cap crashes 11.4pc to $1.65tn as risky assets melt

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The cryptocurrency market crashed on Thursday, with market capitalisation losing 11.4 percent to reach $1.65 trillion, as the aggravation of tension around Ukraine exerted pressure on risky assets.

As of 1315 hours GMT, the largest cryptocurrency Bitcoin’s (BTC) price shed 9.86 percent to reach $35,307. With this massive decrease in price, the market capitalisation of the biggest crypto has reached $668.6 billion. Bitcoin shed 19.8 percent during the last seven days.

Ether, the world’s second-largest cryptocurrency by market capitalisation, fell 14.07 percent to reach $2,363. With this decrease in price, the market capitalisation of ETH has reached $278 billion.— TLTP

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