Geopolitical tensions cause crypto to crater despite select altcoin gains
The global cryptocurrency market cap fell 6.2% over the past 24 hours to $3.16 trillion, as escalating geopolitical tensions between the U.S. and Iran spurred a risk-off environment among investors. Total trading volume hit $148 billion during the same period.
Top gainers defying the trend included Gains Network (GNS), which surged 49.8%, Poollotto.finance up 38.2%, and meme coin Banana For Scale, which jumped 21.3%. On the flip side, Reservoir rUSD (RUSD) tumbled 50%, Gorbagana dropped 36.8%, and GAME by Virtuals fell 34.7%.
The shift comes as investors flee riskier assets like cryptocurrencies in favor of traditional safe havens such as the U.S. dollar, gold, and Treasury bonds. Though the U.S. Dollar Index edged…
