The price of bitcoin rose by 16% on tuesday, as the russian attack on ukraine continued and the u.s. increased its sanctions on the country. ethereum went up 5.4% to $2,980.38. in the morning, the crypto asset’s value went above $3,000.

a company called coin metrics says that the cryptocurrency’s price was up 6% in the last 24 hours to $44,219.50. last week, there was a significant drop in cryptocurrency prices because stocks and other risky assets went down after russia invaded ukraine. this rally comes after that.

some experts say that investors bought the dip, russians tried to use crypto to avoid sanctions, and ukrainians and russians tried to get their money out of their countries.

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