A decline has been observed in major assets in the cryptocurrency market over the past 24 hours, APA-Economics reports.
On CoinMarketCap, the price of Bitcoin fell by 1.63% over the last 24 hours to $79,552. The price of Ethereum decreased by 1.87% to $2,279, while the price of BNB dropped by 0.55% to $639.6.
On the contrary, an increase was recorded in digital assets linked to gold. The price of PAX Gold rose by 0.46% to $4,710, while the price of Tether Gold increased by 0.42% to $4,708.
Among other cryptocurrencies, the price of Bitcoin Cash declined by 2.44%, while Monero fell by 4.60%. Zcash, meanwhile, gained 6.11%.
The capitalization of the cryptocurrency market also declined overall by 0.75% to $2.66 trillion.
According to analysts, the main reason for the decline in the market is investors shifting away from risky assets toward safe-haven instruments, particularly gold and gold-indexed tokens, as well as growing uncertainty amid rising US–Iran tensions in the Middle East.