The global cryptocurrency market capitalization fell by $3 billion to $1.04 trillion amidst a bearish market and escalating Middle East crisis, according to data from TradingView on Wednesday. This downturn comes as investors increasingly view Bitcoin as a safe haven asset amid geopolitical uncertainty.
Bitcoin's market share, represented by BTC.D, surged to a four-month high of 51% on Wednesday. The digital currency's growing dominance underscores its perceived strength as a store of value during turbulent economic times.
In related news, Binance, one of the leading cryptocurrency exchanges, announced it will delist its XRP/BUSD trading pair on October 17. The decision follows a record low of 71,820 XRP transactions and a price drop from $0.54 to $0.49. This move is part of Binance's ongoing strategy to replace BUSD with FDUSD.
The delisting decision comes after a period of declining activity and value for the XRP/BUSD pair. It aligns with Binance's broader plan to shift towards FDUSD, which the company believes offers better prospects for its platform and users.
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