Crypto On March 2: Market Remains Bullish Since Feb. 27 As Tension In Ukraine Persists

The cryptocurrency market has remained bullish since Feb. 27 as top coins, including Bitcoin and Ethereum, gained even as the Russia-Ukraine crisis deepened. Experts appreciate the power of cryptos in liberating the global financial system compared to traditional assets.

The global market cap was up 0.80% at $1.93 trillion as of 3.35 a.m. ET Wednesday, March 2, CoinMarketCap data showed.

Charles Tan, Head of Marketing at global exchange Coinstore, told the International Business Times, "The global surge in inflation numbers, rising interest rates, and geopolitical uncertainty are driving investors to new-age crypto assets to secure their investments."

Bitcoin was up 1.79% at $44,199. The last time Bitcoin reached the $44,000 level was on Feb. 15. Ethereum rose 2.62% to $2996. Seven of the top 10 cryptos were trading higher as well. Meme cryptos, too, are on the uptick.

Industry insiders are confident that cryptos and digital assets have the power to transform the future of global finance.

"The traditional assets have failed to meet the aspirations of the people when it comes to creating long-term wealth. Crypto and blockchain have the power to liberate the global financial system and bring the global investor community on one common platform," Tan added.

Shivam Thakral, CEO of Indian exchange BuyUcoin, said, "We strongly believe that blockchain technology has the power to transform the financial system of the world for good."

"The whole purpose of crypto and blockchain is to create a close-knit financial ecosystem which will make sending, receiving, and lending a hassle-free process," Thakral told IBT.

The crypto market is highly volatile, and experts recommend that investors not make decisions based on the sudden price shift.