2 weeks Ago
Crypto market today is down by 1.13% at $2.68B, continuing the downward trend it started on the news of Trump tariffs impact.
Major cryptos like Bitcoin and Ethereum have experienced minor dips, whereas stablecoins, Tether and USD Coin are holding their ground. Solana lost the most in the top 10 cryptos with a 3.63% drop.
On the other hand, the viral TRUMP coin is the biggest loser of the day with a decline of 7.79%. Let’s explore the market movements of the top cryptocurrencies to see what to expect and to make informed decisions.
Bitcoin price currently is $83,590.34, down by 1.09% over the last day.
Despite the decline, its market capitalization holds strong at $1.65 trillion, with a trading volume of $53.52 billion.
Ethereum (ETH), which is the second-largest cryptocurrency by market capitalization, also dropped 2.26% to $1,836.06.
Ethereum's market capitalization is $221.54 billion, with a 24-hour volume of $23.97 billion.
Tether (USDT), the biggest stablecoin, was flat at $0.9998 with no real price action. It has a market capitalization of $144 billion, and its trading volume jumped to $101.
26 billion, showing high liquidity. USD Coin (USDC), on the other hand, held steady at $0.9999, rising by 0.
01% over the past 24 hours. Its market cap stands at $60.62 billion, with a trading volume of $17.
03 billion. XRP , the fourth-largest cryptocurrency, fell by 1.11% to $2.
07. It has a market capitalization of $120.81 billion, with a daily trading volume of $6.
93 billion. BNB (Binance Coin) rose marginally by 0.52%, pushing its price to $603.
67. It has a market cap of $86 billion with a volume traded in the past 24 hours at $1.96 billion.
Solana (SOL) registered the largest fall in top cryptocurrencies, declining 3.63% to $120.33.
Solana's market capitalization totals $61.68 billion with a 24-hour trading volume of $6.19 billion.
Dogecoin (DOGE) also fell by 2.65%, trading at $0.1669.
The meme coin has a market cap of $24.81 billion and a 24-hour trading volume of $1.83 billion.
Cardano (ADA) fell by 2.74%, taking its price to $0.6557.
It now has a market cap of $23.12 billion, with a trading volume of $1.13 billion in the last 24 hours.
TRON (TRX) experienced a minimal decline of 0.26%, with its value at $0.2372.
The cryptocurrency's market capitalization stands at $22.53 billion, while daily trading volume is $673.96 million.
New Tariffs Introduction: President Trump imposed a 10% tariff on almost all imports. Higher charges are being levied on specific nations like 34% on China, 20% on the EU, 24% on Japan, and 26% on India. This has worried investors over a possible slowdown in global economic growth.
As a result, they have begun cutting exposure to volatile assets such as cryptocurrencies. Investor Rebalancing out of Risk Assets: The trade war has created a dramatic sell-off in the crypto sector . More than $300 million in long positions have been liquidated as investors rebalance to safer assets.
Regulatory Developments: The European Insurance and Occupational Pensions Authority (EIOPA) suggested that insurers that invest in crypto face strict capital requirements. Thus, discouraging institutional investment in the sector. The interplay of new American tariffs, risk asset flight, and changing regulatory environments has resulted in the crypto price decline today.
The cryptocurrency market has witnessed a decline of around $200 billion in market cap, indicating the widespread effect of these events. Large assets are seeing fluctuations. While Bitcoin maintains its leadership at around $84K, altcoins such as Ethereum, Solana, and Dogecoin continue to witness selling pressure.
Investors are eagerly waiting for any significant updates that may affect prices in the near future..
