Iran Crypto Outflows Spike 700% After US-Israel Strikes, Totaling $10.3 Million

• Outflows from Iranian cryptocurrency exchanges surged within hours of US and Israeli strikes on Iran.
• Chainalysis reported over $2 million in outflows in the hour after strikes; Elliptic noted a 700% spike at Nobitex, Iran's largest exchange.
• A total of $10.3 million worth of cryptocurrencies left Iranian exchanges between Saturday and Monday.
• This surge is seen as a 'pressure valve' for state-linked actors and ordinary citizens, potentially indicating capital flight or liquidity reshuffling.
• Stablecoins are crucial for Iranians to bypass sanctions, preserve value against the depreciating rial, and move capital abroad.