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
SOL Strategies Shares Soar 21% as February Update Highlights Validator Growth
SOL Strategies Inc. reported significant growth in February 2026, with its shares jumping 20.97% following its business update. The firm expanded its Solana validator network to over 33,500 wallets, generated 1,276 SOL in net revenue, and achieved a peak Annual Percentage Yield of 6.47%.
TheNewsCrypto37m ago
Polygon Enables Stablecoin Payments at 150M Visa Merchants Worldwide
Oobit has announced support for Polygon, allowing users of the network to make stablecoin payments at 150 million merchants who accept Visa.
Oobit converts stablecoins into local currency, attracting a wide network of merchants who do not want to be paid in crypto.
Stablecoin payments via th
CryptoNewsFlash56m ago
VeChain Demonstrates Blockchain Benefits With 5.2M Wallets Earning Weekly Rewards
VeChain’s VeBetter DAO has verified 48 million actions on more than 50 apps, and 5.2M wallets can now earn B3TR every week.
VeChain’s B3TR guide details app rewards, Vote2Earn, and GM NFT incentives tied to verified onchain sustainability actions.
VeChain has presented fresh data from its Ve
CryptoNewsFlash2h ago
Jump Crypto and Mainfold Trading received 4 million OPN as market-making tokens, accounting for 2% of the initial circulating supply.
On-chain analyst Ai Yi announced on the X platform that the OPN Launchpool project will conduct a token generation event (TGE) tonight. Jump Crypto and Mainfold Trading have received 2.5 million and 1.5 million OPN tokens respectively, accounting for 2% of the initial circulating supply. Both market makers have already deposited some tokens into exchanges.
GateNews2h ago
Hyperliquid HIP-3 daily trading volume reached a record high on March 3rd
BlockBeats News, March 5th, according to ASXN data, on March 3, 2026, the total number of daily trades across all HIP-3 markets on HyperliquidX surged to 3.4 million, setting a new record.
GateNews4h ago
