RIYADH: Cryptocurrencies took a battering Thursday as the Russia-Ukraine conflict stepped up.
Bitcoin fell 7.8 percent to $35,084, reaching its lowest prices since July 20, 2021, when its price fell below $30,000, according to data collected by the firm CoinGecko.
Ethereum, the second largest crypto by market value, fell 9.7 percent to $2,396.93, its lowest price since July 19, 2021, when it fell to $1,824.93.
Other digital currencies also felt the heat; Solana suffered a 10 percent loss dropping to $79.07, while Avalanche slipped 10.5 percent to $68.20.
Among meme coins, Dogecoin fell 11.7 percent — a favorite of billionaire Elon Musk — while rival Shiba Inu fell 9.1 percent,
The crypto market is currently valued at $1.66 trillion, down 1.4 trillion from its value in November of $3.01 trillion.