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The US military attack on Iran over the weekend increased global tensions and investor anxiety. However, Matt Hogan, head of investment at Bitwise, said that it also highlighted the important role of cryptocurrency markets and the chain.
With the major exchanges closed, the markets on the chain have intervened as a key platform for global price discovery.
The US attack on Iran revealed a structural gap that can only be filled by digital currency markets
In a recent note titled “The Weekend That Changed Finance,” Hogan noted that when… President Trump has announced a military strike In Iran At 2:30 am EST Sunday, global markets were closed. Stocks, futures, forex, and exchanges in Europe and Asia stopped operating over the weekend.
The only traditional markets that operated were the small Middle Eastern exchanges in Saudi Arabia and Qatar. Hogan suggested that markets on the chain are the only places that respond in real time. Thus, these openings fill a structural void left by traditional closed exchanges.
“In years past, if a major geopolitical shock occurred on a Sunday morning, investors would wait until the US futures markets opened at 6pm EST on Sunday to see what their impact would be. But as this week has shown, they now have an alternative: they can turn to the crypto-based railway, which trades 24/7/365 around the world. And this weekend, they did.” He said.
BeInCrypto also reported that the impact of the attacks was soon evident in the cryptocurrency market, with Bitcoin (BTC) falling. After the news. According to Hogan, for most of that Sunday, “chain finance was the center of the financial world.”
He noted that Hyperliquid, a permanent decentralized exchange, has become a “pivot”. Hyperliquid’s HIP-3 decentralized exchanges allow traders to trade Synthetic perpetual futures contracts Linked to traditional assets.
BeInCrypto said that HIP’s open interest exceeds $3 billion. Overall, the platform saw a trading volume of more than $11.5 billion during Saturday and Sunday, according to For the data DeFiLlama.
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At the same time, tokenized gold has attracted increasing interest from investors. XAUT registered by Tether More than $300 million In the trading volume 24 hours with high demand. At the same time, the activities in the prediction markets, such as Calcci, have increased And Polymarket significantly.
“Sunday’s attacks highlighted markets that never close. Don’t expect traders to forget this,” Hogan commented. “This was the first time I remember crypto-backed markets being ‘the market,’ period.
The CEO also shared that the weekend’s activity prompted him to lower his expectations for when the financial sector will move down the chain.
“I believed that the supported crypto markets will grow in the margins – and that in the next 5-10 years, they would have mostly native cryptos and others that are not well integrated in the traditional financial system … The change to cross-chain financing is inevitable. After this week, I am convinced that the change will come faster than we imagined,” he said.
Hogan also wrote in his analysis that hedge funds or… Banks or any other investors should Now fit to compete in real-time global markets.
“If you are a hedge fund, or a bank, or any other investor who wants to trade competitively, you no longer have a choice: You have to build a stablecoin portfolio and learn to trade hyperliquid. You have to understand XAUT. You have to read about tokenized shares. Because even if you don’t, everyone,” he said.
So, the weekend of the US-Iran strikes showed that financial markets that have always been wired can be moved from the profit margins to the mainstream, and investors are now paying attention.
