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
UNI Rallies as Federal Court Ends Investor Case Against Uniswap Labs
Uniswap Labs won a full dismissal with prejudice, ending the investor lawsuit over scam-token losses and barring plaintiffs from refiling the same claims.
UNI rose about 6% to around $3.92 after the ruling, as traders reacted to the case being permanently closed.
UNI price rose about 6% to $
CryptoNewsFlash30m ago
Bitcoin ETFs Record $290.89M Daily Inflow, Ethereum ETFs See $18.76M Outflow on March 4
Gate News bot message, according to March 4 data, Bitcoin ETFs registered a single-day net inflow of 4,046 BTC (equivalent to $290.89 million), with weekly net inflows reaching 20,816 BTC ($1.5 billion).
Ethereum ETFs experienced a single-day net outflow of 9,049 ETH (equivalent to $18.76 million),
GateNews57m ago
Gray Scale: In February, Solana on-chain stablecoin trading volume hit a new high of $650 billion, with increasing payment demand
In February, the trading volume of stablecoins on the Solana blockchain reached $650 billion, a record high and double that of last year. The surge in retail payment demand has driven the growth of stablecoin transactions, with Solana gradually shifting from Meme coins to stablecoin trading, indicating an increase in payment use cases. Although Ethereum still dominates the market, stablecoins could become a key pillar of the Solana network.
GateNews58m ago
Lamborghini announces acceptance of Bitcoin payments
Odaily Planet Daily reports that Lamborghini, a top sports car manufacturer with a market capitalization of $20 billion, has announced it will accept Bitcoin payments. (The Bitcoin Historian)
GateNews4h ago
Gate Research Institute: DEX Trading Volume Rebounds, SuperLink Ecosystem Accelerates Development | Gate Institutional Crypto Market Weekly Report (February 23 – March 1, 2026)
Recently, market liquidity has been relatively thin, with BTC dropping rapidly and entering a consolidation phase, while ETH has shown weak performance. Geopolitical risks have driven up oil and precious metals, with funds shifting toward defensive assets. DEX trading volume experienced a pulse release, but overall remains below historical highs, and the market is still in a deleveraging stage. Next week, attention should be paid to several macroeconomic indicators and events such as token unlocks that could cause market volatility.
GateResearch5h ago
Tether USAT's first reserve proof is out! Over-collateralized with 17.6 million MGB, analyzing the reserve composition structure
Deloitte & Touche has for the first time issued a reserve certification for USAt under Tether, showing an over-collateralization of $17 million in assets, strengthening its US compliance footprint.
Deloitte & Touche's first endorsement of Tether's assets marks a new milestone in USAT transparency
-----------------------------------
The world's leading stablecoin, Tether, has made progress in its pursuit of transparency. One of the Big Four accounting firms, Deloitte & Touche, has completed an assessment of Tether's new compliant stablecoin.
CryptoCity5h ago
