The crypto market capitalization has fallen to its lowest level since mid-April after the US carried out strikes on Iran for the second time in three days amid peace talks.
Cryptocurrency markets have shed around $80 billion in value over the past 24 hours, with losses accelerating after the US reportedly carried out a new wave of military strikes on Iran.
The US military carried out new strikes late on Wednesday targeting an Iranian military site and shooting down four Iranian attack drones, which a US official told Reuters posed a threat around the Strait of Hormuz.
“These actions were measured, purely defensive, and intended to maintain the ceasefire,” the official said. Iran’s Islamic Revolutionary Guard Corps reportedly released a statement saying that it has retaliated by attacking a US airbase in Kuwait.
