Market Update: Top 10 Cryptos All Down In The Red Today

The crypto was red on Wednesday night but took a nosedive on Thursday morning when it became clear that Russia was attacking Ukraine. Yesterday, US stocks went into freefall as tensions in Ukraine continued to escalate. The SPX500 (-2.25%), DJ30 (-1.69%), and NASDAQ100 finished heavily red with investors fleeing safer assets. Tensions have been high lately due to the ongoing crisis between Russia and the West, which poses an increased danger that could affect many different aspects of life around planet Earth such as trade agreements or even violence between its citizens at home base (Ukraine). Related Reading | Bitcoin Investors Haven’t Responded To Russia-Ukraine War With Large Inflows (Yet) The preliminary GDP data for the fourth quarter of 2021 is expected to be released at 13:30 GMT, which could cause volatility in markets. With Russia’s invasion of Ukraine, oil prices have skyrocketed past $97 this morning. Top Cryptocurrencies Performance The crypto market took a nosedive over the past 24 hours, with most coins in the top 20 dropping by 10%. Five out of 10 cryptocurrencies experienced double-digit losses: Cardano more than 15%, Avalanche 14% Ethereum and BNB 12%. The sixth-highest valued coin by market capital, XRP, had fallen 11%. The price of Bitcoin is down today, trading under $35,000 when writing these words. Outside top 10 coins, Dogecoin (down 15%), Polkadot, and Polygon have also lost significant valu...