News

PANews, March 1—According to CoinDesk, since the United States and Israel launched attacks on Iran, more than a dozen Iran-related contracts have appeared on the prediction market Polymarket. The prediction market for whether Khamenei will step down alone has attracted a trading volume of $45 million. The trader account with the highest turnover is named “Curseaaaaaaa,” who profited $757,000 by betting “yes.” Four other traders also achieved six-figure profits respectively.

BlockBeats News, March 1st – Yesterday, the United States launched a military strike against Iran, causing the market to drop in response. Bitcoin briefly fell to $63,000. As the U.S. action achieved some interim results, the market generally rebounded. At the time of writing, Bitcoin once broke through $68,000, and Ethereum returned above $2,000. It is worth noting that, according to Coinglass data, after the market experienced a "drop followed by a rise" during this conflict, bearish sentiment has eased to some extent. The funding rates for major cryptocurrencies, including altcoins, have mostly returned to neutral, as shown in the chart. BlockBeats Note: Funding rates are fees set by cryptocurrency trading platforms to maintain the balance between contract prices and underlying asset prices, typically applied to perpetual contracts. It is a mechanism for capital exchange between long and short traders. The trading platform does not charge this fee; it is used to adjust the cost or profit of holding contracts, keeping contract prices close to the underlying asset prices. When the funding rate is 0.01%, it represents the benchmark rate. When the funding rate is greater than 0.01%, it indicates a generally bullish market. When the funding rate is less than 0.005%, it indicates a generally bearish market.

BlockBeats News, March 1st, Singapore Oversea-Chinese Banking Corporation strategist Christopher Wong said: "As the market is about to open on Monday, the recent Iran conflict has heightened geopolitical risk premium. The market's initial reaction can be roughly anticipated: safe-haven assets such as gold may experience a 'gap-up opening,' and due to supply disruption concerns, oil prices may also strengthen. Risk assets and high-beta currency... may face initial volatility, especially when news reports suggest the possibility of retaliation or regional spillover effects." (FX678)