- Geopolitical tensions between the U.S. and Iran triggered a Gold rally and pressured Bitcoin and Ethereum lower on Monday.
- Despite broad market weakness, select altcoins like Morpho and Near Protocol rallied sharply, signaling specific risk appetite.
- Morpho surged over 6% following a strategic 48-month token purchase agreement with asset management giant Apollo Global Management.
Major cryptocurrencies retreated on Monday, spooked by escalating U.S.-Iran conflict and disrupted energy supplies that shocked global markets. Consequently, risk-off sentiment permeated the crypto landscape, pushing the total market value to $2.38 trillion according to data.
Bitcoin fell 0.6% while Ethereum lost 2.0% during the 24-hour period. However, a handful of mid-cap tokens defied the downturn with notable rallies, demonstrating pockets of resilience.
Morpho led the charge, climbing 6.7% to trade at $1.82. This momentum follows its deal last month where Apollo Global Management committed to buying up to 90 million MORPHO tokens over 48 months. Retail sentiment around MORPHO remained ‘bullish’ on Stocktwits.
Near Protocol also outperformed, rising nearly 5% to $1.20. The gain followed the launch of Near.com, an AI-powered wallet designed to simplify crypto use. On Stocktwits, retail sentiment around NEAR remained ‘bullish’ territory.
Meanwhile, HTX DAO rose 5.2%, Jupiter gained 3.5%, and XDC Network increased 3.1% in the last 24 hours. These performances highlighted diverging fortunes within the crypto market amid the geopolitical storm.
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