Crypto Market Overcomes Iran Tensions: Solana, XRP, and DOGE Rapidly Recovered! - Coin Bulletin

The crypto market has quickly recovered from the panic selling caused by the US military attack on Iran.

Last weekend’s U.S. airstrikes on Iran’s nuclear facilities created a huge panic in the crypto market. As a result of the atmosphere of fear, a total of 1.2 billion dollars worth of liquidations took place in the markets, while Bitcoin (BTC) and Ethereum (ETH) were most affected by this process. However, the markets started to recover on the first day of the week and entered a serious uptrend, especially Solana (SOL), XRP (XRP) and Dogecoin (DOGE).

In the last 24 hours, liquidations in the markets decreased to 642 million dollars, indicating that the markets have started to calm down. The biggest loss was seen in the crypto Bitcoin, with 230 million dollars in BTC and 188 million dollars in ETH positions being liquidated. In altcoins, SOL faced 28 million dollars, XRP 21 million dollars, and DOGE 25 million dollars in liquidations.

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Strong recovery in Altcoins

Despite the sudden selling pressure, the recovery of some altcoins resisting market conditions is noteworthy. According to OSL Chief Commercial Officer Eugene Cheung, Ethereum continues to attract the interest of institutional investors, while Solana and other Layer-1 tokens are supported by increasing network activity, developer interest, and speculation about ETF approvals.

The rapid recovery of the markets reflects analysts’ expectations that the economic impact of the US-Iran tension will remain local and limited. LVRG Research Director Nick Ruck stated that Iran’s retaliatory steps will be limited and that they expect the conflict’s reflection on global markets to remain at a minimal level.

However, the risks are not completely eliminated. The warning that the U.S. could respond with a stronger military answer to a possible retaliation from Iran is keeping the markets on alert. Any disruption in the flow of oil through the Strait of Hormuz, in particular, could create new pressure on global markets and crypto assets.