The ongoing conflict in Gaza between Israel and Hamas has garnered significant global attention. As the world watches, the repercussions of this conflict are felt not only on the ground but also in the financial markets. Defense stocks, in particular, have seen significant fluctuations. But how are cryptocurrencies, the decentralized digital assets, responding to this geopolitical tension? Will crypto crash?
Did Hamas use Crypto to Fund Themselves?
While the traditional financial systems have been impacted, there’s been speculation around the use of cryptocurrencies in the conflict. Reports suggest that Hamas might have turned to digital currencies as a means to fund their operations. The U.S. Justice Department has been investigating money laundering cases linked to Hamas-related cryptocurrency accounts. Although the details remain scant, it’s evident that these accounts were seized by the U.S. government three years ago.
Crypto Price Analysis: Will Crypto Crash?
1- Bitcoin (BTC)
Bitcoin, the pioneer of the crypto world, has shown a slight increase in the past 24 hours. Currently priced at $26,932.88, it has seen a 0.75% rise. Over the past week, however, Bitcoin has experienced a decline of 3.68%.
2- Ethereum (ETH)
Ethereum, the second-largest cryptocurrency by market cap, is priced at $1,556.71. In the last 24 hours, it has witnessed a growth of 0.97%. However, its performance over the past week has been negative, with a 5.07% drop.
3- BNB (Binance Coin)
BNB, the native token of the Binance platform, stands at $206.82. It has seen a 0.55% increase in the past day. Over the past week, BNB has decreased by 2.73%.
4- Cardano (ADA)
Cardano, a blockchain platform for smart contracts, is currently priced at $0.2476. It has experienced a slight growth of 0.33% in the past 24 hours. However, its weekly performance shows a decline of 4.23%.
5- Ripple (XRP)
XRP, known for its digital payment protocol more than its cryptocurrency, is priced at $0.4875. It has seen a 1.36% rise in the last 24 hours. Over the past week, XRP has faced a decline of 6.76%.
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