Following the escalating tension between Iran and Israel, a major price decline began in the cryptocurrency market. Some experts expect more collapses in the coming hours. Amid these developments, Chinese cryptocurrency giant Fenbushi Capital began emptying its altcoin stash.
Fenbushi Capital sold 7 altcoins for $5.14 million!
cryptokoin.comAs you follow from , the crypto market fell sharply on US data and rising geopolitical tensions. Leading crypto Bitcoin fell to 62 thousand dollars. The altcoin market also experienced a significant loss of altitude. In this environment, on-chain analytics platform Lookonchain reported that Fenbushi Capital recently sold $5.14 million worth of altcoins. In this context, Lookonchain made the following statement:
Fenbushi Capital has $2.44 million (-90%) in SUSHI and $2.27 million (-82%) in COMP, $1.53 million (-42%) in UNI and 499k in AAVE dollar lost (-15%)! 3 hours ago, Fenbushi Capital sold $5.14 million worth of assets at a loss:
- 136,094 EIGEN ($514 thousand)
- 146,537 UNI ($1.13 million)
- 10.17 million SNT ($244 thousand)
- 10,681 COMP ($509 thousand)
- 11,616 AAVE ($1.9 million)
- 344,086 SUSHI ($276 thousand)
- 219 ETH ($576 thousand)
Tension is increasing between Iran and Israel!
“A senior White House official told me, ‘The United States has indications that Iran is preparing to launch a ballistic missile attack against Israel,'” political correspondent Barak Ravid said. he said. He shared a post saying: However, this post went viral like wildfire as it attracted a lot of attention from crypto enthusiasts. It gained 1.2 million views in just a few hours.
Bitcoin and altcoin market started to fall
At the time of writing, the overall cryptocurrency market has begun to decline. Major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and Binance Coin (BNB) lost 2.5%, 3.5%, 4.6% and 3.2% respectively in the last 24 hours. experienced price decreases of over . Most of the price drop occurred following news of the ballistic missile attack on Israel.
Following this news, traders liquidated a significant amount of $351.21 million, according to data from on-chain analysis firm Coinglass. However, the largest liquidation took place on Binance, the world’s largest cryptocurrency exchange, which included $12.37 million worth of BTC/USDT. In the midst of this liquidation, the majority of the liquidation occurred in the last four hours. Additionally, the bulls were hit the hardest during this price decline.
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