🎉 #Gate Alpha 3rd Points Carnival & ES Launchpool# Joint Promotion Task is Now Live!
Total Prize Pool: 1,250 $ES
This campaign aims to promote the Eclipse ($ES) Launchpool and Alpha Phase 11: $ES Special Event.
📄 For details, please refer to:
Launchpool Announcement: https://www.gate.com/zh/announcements/article/46134
Alpha Phase 11 Announcement: https://www.gate.com/zh/announcements/article/46137
🧩 [Task Details]
Create content around the Launchpool and Alpha Phase 11 campaign and include a screenshot of your participation.
📸 [How to Participate]
1️⃣ Post with the hashtag #Gate Alpha 3rd
Middle East tensions rise, crypto market crashes
As a result of the increasing tension between Iran and Israel in the Middle East, there has been a sharp decline in the cryptocurrency market.
The tension created by Israel in the Middle East in recent years has affected the financial world. War rhetoric, frequently on the agenda, has put pressure on stock markets and the cryptocurrency market.
The escalating war tension between Iran and Israel wiped out $3 trillion from global stock markets in one day. However, the cryptocurrency market remains pessimistic.
Bitcoin (BTC) fell to $60,500. Ether (ETH) fell below $3,000. Weakness in BTC and ETH intensified the outflow of money from altcoins. Many altcoins lost more than 10% of their value.
Middle East affects the cryptocurrency market
A dynamic week has passed in the cryptocurrency market. Altcoins, which started to recover with the Fed's hint of interest rate cuts, remained in the midst of Middle East tensions. The market cap index of other cryptocurrencies excluding Bitcoin and Ether, known as TOTAL3, dropped from 605.525 billion dollars to 578.211 billion dollars. Altcoins lost 27.3 billion dollars since the previous day.
According to CoinGlass data, $289 million was liquidated in the last 24 hours. Long (upward) trades accounted for $247.5 million of these liquidations.
In the last 24 hours, 87,750 investors received liquidation notices and lost their open positions. The biggest losses occurred with a liquidation of $87.34 million in BTC and a liquidation of $80.14 million in ETH.
Layer-2 index experienced a 7% loss in the last 24 hours. zkSync, the new player in Layer-2, experienced a 10% decline.
Cat-themed memecoins index experienced a decrease of 16.3 percent, and Solana memecoin index experienced a decrease of 13.8 percent.
Crypto analysts claimed that these levels are a potential bottom. According to analysts, altcoins have the possibility of recovery as long as BTC does not lose 60,000 dollars.
This article does not contain investment advice or recommendation. Every investment and trading transaction carries risk, and readers should conduct their own research when making decisions.