At a time when the conflict in Ukraine has been going on for a very long time and the specter of inflation brought on by the high price of crude oil has became a global problem, crypto currencies are also falling into a bad zone for the rest of the world. Investors have taken a blow as a result of the global cryptocurrency market's loss of roughly $830 billion in over six weeks, which came at a time when stock markets throughout the globe are experiencing dramatic ups and downs. On May 16, the worldwide market capitalisation (m-cap) of cryptocurrencies was $1.27 trillion , down from less than half of the $2.83 trillion it had reached in November of previous year. Bitcoin, the most costly cryptocurrency, had a price per coin of $29,504.9 (about Rs 23 lakh), which was down significantly from its November value of $64,862 (approximately Rs 50.5 lakh). The sudden failure of the "Stabblecoin" (code name UST) in the second week of May was responsible for the large decline.