March 4 News: The weekend military strike on Iran by the United States heightened global market tensions. However, Bitwise Chief Investment Officer Matt Hougan pointed out that this event highlights the key advantages of cryptocurrencies and on-chain markets. With major stock exchanges closed, on-chain markets became the only venue for global price discovery and trading. Their 24/7/365 trading capability demonstrates a flexibility that traditional finance cannot match.
Hougan stated that when President Trump announced the strike on Iran early Sunday morning, stock, futures, and forex markets in Europe and Asia were already closed, leaving only small Middle Eastern exchanges operational. In response, on-chain markets immediately provided real-time trading channels, quickly reflecting geopolitical shocks. Bitcoin (BTC) prices declined following the news, with Hyperliquid’s HIP-3 decentralized perpetual contract exchange becoming a focal point. Its open interest exceeded $1 billion, and weekend trading volume surpassed $11.5 billion.
Additionally, tokenized gold Tether XAUT traded over $300 million within 24 hours. Market prediction platforms Kalshi and Polymarket also saw significant activity. Hougan noted that this event marks the true emergence of the cryptocurrency market as a real-time global financial hub, accelerating on-chain finance from the periphery to the mainstream.
He further emphasized that hedge funds, banks, and other investors wishing to participate in global real-time trading must master stablecoin wallets, on-chain perpetual contracts, and tokenized assets; otherwise, they risk being marginalized by market competition.
Overall, the market performance over the weekend of the US-Iran conflict clearly shows that the advantages of 24/7 cryptocurrency trading are gaining high attention from global investors. On-chain markets are expected to play an even more central role in the future financial system.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Today, the cryptocurrency Fear & Greed Index dropped to 12, indicating the market is in extreme fear.
Gate News Report, March 7th, according to Alternative.me data, today the cryptocurrency fear and greed index dropped to 12, indicating the market is in a state of "extreme fear." Yesterday, the index was 18, also in the "extreme fear" zone.
GateNews1h ago
Today’s top 100 cryptocurrencies by market cap: H up 17.60%, ZEC down 8.60%
On March 6th, among the top 100 cryptocurrencies by market cap, Humanity Protocol had the largest increase, rising by 17.60%, while Zcash experienced the largest decline, dropping by 8.60%.
GateNews9h ago
Bitcoin and Ethereum ETFs Record Daily Outflows While Maintaining Weekly Gains
Gate News bot message, according to the March 6 update, Bitcoin ETFs recorded a daily net outflow of 1,697 BTC (valued at $116.94 million), while maintaining a 7-day net inflow of 13,014 BTC (valued at $896.69 million). Ethereum ETFs showed a daily net outflow of 3,185 ETH (valued at $6.34 million),
GateNews10h ago
Shiba Inu: Alert Issued as SHIB Participant Social Media Account Gets Hacked - U.Today
Ragnarshib warns the Shiba Inu community about a hacked account belonging to Vet Kusama, currently used by scammers to send fraudulent messages. Users are advised not to interact with the account or its links until it is recovered.
UToday10h ago
Gold and silver prices rise across the board, BTC volatility index BVIX drops 1.27% intraday
On March 6th, gold and silver prices rose to $5,107.70 per ounce and $82.980 per ounce, respectively, while the volatility index slightly declined. In the foreign exchange market, the USD against the RMB fell, and the USD against the JPY rose. Global stock markets generally declined, while WTI and Brent crude oil prices significantly increased. The Gate platform offers a variety of financial product trading services.
GateNews10h ago
