Top cryptocurrency Prices Today: Bitcoin, Avalanche, Ethereum, Shiba Inu drop up to 6%

economictimes.indiatimes.com:

Bitcoin took a breather as investors booked profits, after the US Fed's chair Powell testified before the US Congress. Altcoins followed suit. Federal Reserve Chair Jerome Powell reaffirmed the US central bank's plan to raise interest rates this month for the first time since 2018. On the other hand, the saga in Eastern Europe continued. All of the top digital tokens were trading lower on Thursday. Avalanche tumbled as much as 6 per cent, whereas Cardano and Shiba Inu dropped 3 per cent each. Bitcoin and Ethereum also shed a per cent each.

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The global cryptocurrency market cap today was almost flat at $1.92 trillion mark, easing up to a per cent in the last 24 hours. Total cryptocurrency trading volume slipped more than 10 per cent to $94.72 billion. Expert Take Russia’s invasion of Ukraine has a far-reaching impact not just on Ukraine, but also on global economies, with commodity prices surging sharply over the course of the past few weeks, said CoinDCX Research Team. «If left prolonged, that could potentially exacerbate inflation in India, with trickle-on effect on the country’s developmental progress as well as financial markets,» it added.Global Updates Bitcoin prices have surged as investors again appear to view the volatile cryptocurrency as a safe haven for their money and Russians and Ukrainians seek alternatives to their country's financial institutions. Some of the world's biggest cryptocurrency exchanges are staying put in Russia, breaking ranks with mainstream finance in a decision that experts say weakens Western attempts to isolate Moscow following the invasion of Ukraine. Trading volumes between