#IsraelIranConflict 📉 Sharp Decline in the Cryptocurrency Market

On October 13, 2024, major cryptocurrencies such as Bitcoin and Ethereum recorded a decline of up to 10% following Iran's drone attack on Israel. Bitcoin's value dropped from approximately $68,000 to $62,000 in one hour, resulting in liquidations worth $860 million within 24 hours.

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🔐 Increased Cyber Risks

The escalation has heightened concerns about cyberattacks on digital infrastructure, including blockchain networks and trading platforms. This could lead to a decline in investor confidence, especially in areas affected by the conflict.

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💱 Increased Demand for Privacy Coins

In times of turmoil, interest in cryptocurrencies that offer greater privacy, such as Monero and Zcash, rises as individuals in conflict zones seek to protect their transactions from government surveillance.

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🌍 Impact on Financial Transfers

Financial transfers using cryptocurrencies have increased in conflict-affected areas, particularly using stablecoins like USDT and USDC, reflecting a growing reliance on these tools amid banking restrictions and sanctions.