The Solana network’s native cryptocurrency led the cryptocurrency market’s rebound after major tokens fell due to concerns about escalating conflict in the Middle East.
Solana brush
+7.73%
It’s up more than 6% in the last 24 hours and was changing hands at $154.34 at 4:25 a.m. ET. During the same period, Bitcoin rose by 2.56% and Ethereum rose by more than 5%. Block’s pricing page.
This was seen in the wider market. The total cryptocurrency market capitalization is 4.0% According to CoinGecko, its value over the past 24 hours now stands at $2.55 trillion. The GM 30 index, which represents the top 30 cryptocurrencies, rose 4.26% to 135.57 over the past 24 hours.
Sunday’s QCP Capital report pointed to a recovery from Saturday’s lows. “It is likely that the immediate risk-off reaction took a full-blown hit over the weekend as Bitcoin was used as a proxy macro hedge,” QCP Capital analysts said. Bitcoin has since traded above $64,000 and Ethereum has surpassed $3,000. “He said.
As the conflict intensifies, global markets are shaking.
Following reports of a possible drone attack on April 12, U.S. stocks closed lower at the end of trading, and the Nasdaq index also fell by 1.
On April 14, the United Nations warned that the Middle East was on the brink of a potentially devastating all-out war. Israel has vowed to “pay an exact price” to Iran after Saturday’s drone and missile attacks. At that time, cryptocurrency prices also fell significantly.
This morning London’s FTSE 100 index opened 0.5% lower at 7,954, down 41.56 points. In Asia, Hong Kong’s Hang Seng, Japan’s Nikkei and South Korea’s Kospi all fell more than 1% during morning trading.
Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.
© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.