During the early trading hours of Monday morning, 82 of the top 100 digital currencies were trading in the red.

Bitcoin and Ethereum have given up the gains earned at the end of last week as Russia continues its onslaught on Ukraine and US Vice President Joe Biden warns China about the risks of helping the former nation in a conflict.

Bitcoin has down 2.2 percent in the last 24 hours to US$40,990, while Ethereum has dropped 1.9 percent to US$2,871.