Despite geopolitical tensions and U.S.-Israel military strikes, Iranian exchanges saw only brief spikes in activity, with major transfers likely reflecting internal fund management rather than user-led panic, according to TRM Labs and Chainalysis.
TRM Labs and Chainalysis report that Iran’s Nobitex and other exchanges experienced short-term surges in activity and outflows following U.S.-Israel strikes, including a hot-to-cold transfer exceeding $35 million since February 28; analysis indicates these movements were likely internal fund management rather than mass user withdrawals.