Tokenized crude oil futures saw their largest liquidation event on crypto venues as the conflict expanded to Saudi Arabia and Gulf oil production collapsed.

Nikkei drops more than 6%, and Kospi slides about 8% as traders price supply disruption risk, while prediction markets show strong odds of $120 crude.

There was little sign over the weekend of any de-escalation in the war against Iran.

As crypto passes into mainstream use, it’s losing its rebel soul. It may still express rebellion, but won’t be rebellion anymore, says Callon-Butler.