Crypto Altcoins Lead Slide as Geopolitics Spurs Haven Demand
(Bloomberg) — Smaller, less liquid tokens such as Solana and Cardano led a decline in cryptocurrencies as financial markets shifted toward safety after Israeli airstrikes on Iranian nuclear targets.
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Bitcoin, which accounts for more than 60% of the digital asset world’s market value, was little changed at around $105,600 after earlier dropping as much as 3%. Solana and Cardano were off by roughly 4%, after slumping as much as 8% and 6.7%, respectively.
Total liquidation of crypto bets over the last 12 hours was $106.5 million on Friday in New York, with $44 million and $63 million in long and short positions closed respectively, according to data compiled by Coinglass.
Israel launched strikes…
