Geopolitical Shockwaves from Venezuela Operation Ripple Through Crypto Markets
The capture of Venezuelan President Nicolas Maduro following U.S. military strikes has sent immediate tremors through risk assets. Bitcoin (BTC) dipped 2.3% in early Asian trading as the news broke, while ethereum (ETH) showed relative resilience with only a 1.1% decline. The Venezuelan bolivar's black market rate plunged 18% against USD within hours.
Latin American-focused exchanges like Bitso reported 40% higher trading volumes as Venezuelans scrambled to preserve wealth through stablecoins and BTC. Tether (USDT) premiums reached 12% on local peer-to-peer markets, reflecting dollar liquidity concerns. The TRON (TRX) network saw a 300% spike in Venezuelan wallet activations.
Oil-linked tokens including Petro (PTR) collapsed 78% on unconfirmed reports of U.S. Treasury sanctions targeting Venezuela's crypto infrastructure. Energy markets reacted sharply, with crude futures up 4.2% - potentially benefiting oil-backed crypto projects.