Date: Thu, August 01, 2024, 05:37 PM GMT
Today, the cryptocurrency market experienced a significant downturn, with major cryptocurrencies and altcoins taking a heavy hit. Notcoin, Worldcoin, and Pyth Network were among the top altcoins that saw substantial declines. The total crypto market cap has dropped by 1.59%, now standing at $2.25 trillion. Both Bitcoin and Ethereum have also been affected, each falling by over 6% in the past 24 hours.
Altcoins Today:
- Notcoin (NOT): Down by 10.81%
- Worldcoin (WLD): Declined by 10.01%
- Pyth Network (PYTH): Down by 9.98%
The primary cause of this recent fall is attributed to rising geopolitical tensions between Iran and Israel. According to a report by the New York Times, Iran’s supreme leader, Ayatollah Ali Khamenei, has ordered a direct strike on Israel in retaliation for the loss of Hamas’s leader, Ismail Haniyeh. This escalation has led to increased market volatility and uncertainty, impacting investor sentiment.
In the last 24 hours, a total of 104,747 people were liquidated, amounting to a total liquidation of $320 million.
The cryptocurrency market remains highly sensitive to global events, and this recent development is a stark reminder of how geopolitical tensions can swiftly impact market stability. Investors are advised to stay informed and exercise caution during these turbulent times.
Disclaimer: This article reflects my personal views and interpretations of the current market situation. It is not intended as financial advice. Always conduct your own research and consult with a professional financial advisor before making any investment decisions.