Bitcoin, Ethereum, Dogecoin, Shiba Inu drop up to 6%

After strong weekly gains, the US central bank raised interest rates for the first time in four years and endured Russia's growing invasion of Ukraine, major cryptocurrencies fell on Monday.

Most other major cryptocurrencies were in red, with a dip in volume. Investors have digested the long-awaited rise of the Federal Reserve by 25 bps and global unrest with the Russian invasion.

With the exception of Terra, all the top digital tokens are trading lower on Monday. Snowfall and Shiva Inu decreased 5 percent eac. The global cryptocurrency market cap fell to the 1.84 trillion mark today, down more than 2 percent in the last 24 hours. Total cryptocurrency trading volume fell 4 percent to $ 80.22 billion.

Speaking to Bloomberg on March 14, Tom Robinson, co-founder of the elite, said cryptocurrencies could be used to evade sanctions. However, it has been widely reported and now generally accepted that Russia is very unlikely to pivot to avoid crypto resources.