The geopolitical situation in light of the Iran-Israel conflict has noticeable effects on the cryptocurrency market. Recent changes in market capitalization and prices of major crypto assets reflect the impacts of current global events.
Bitcoin and Ethereum Experience Decline
The cryptocurrency market is witnessing minor declines with key assets. Bitcoin ($BTC) recorded a decline of 0.53%, reaching $102,849.36, with a market dominance of 64.8%. At the same time, Ethereum ($ETH) decreased by 5.43%, now priced at $2,291.59, holding a market dominance of around 8.8%.
Top Crypto Gainers
Amid overall decline, the market also demonstrates winning positions. Cryptocurrencies CATX ($CATX), Black Agnus ($FTW), and Black Phoenix ($BPX) are leaders among crypto gainers. CATX jumped by 2360.77%, trading at $0.000007212. FTW saw an increase of 2146.91%, now at $0.00000009150, while BPX registered a growth of 1429.77% at a current price of $2.26.
Geopolitical News and Its Market Effects
The context of geopolitical events also impacts the decentralized finance (DeFi) sector, which reported a 3.02% dip, totaling $106.162B. Analyzing further, AAVE recorded a decrease of 4.27%, maintaining its TVL at $23.659B. Additionally, NFT sales volume fell by 0.08%, reaching $13,814,530, with the SXY collection ranking first with sales of $6,602,254. In addition, France is planning to establish a strategic Bitcoin ($BTC) reserve in collaboration with Jan3, while Norway has imposed restrictions on Bitcoin ($BTC) mining.
Thus, geopolitical events such as the Iran-Israel conflict significantly affect global cryptocurrency markets, including price changes in Bitcoin and Ethereum, as well as in the DeFi and NFT sectors.
