The largest cryptocurrencies, such as Bitcoin, Ethereum, Solana and XRP, significantly fell in price at the beginning of the trade week in Asia. In the morning, the Bitcoin exchange rate decreased by more than 8 % to about $ 91,687 per coin (Coindesk data). Later, the cryptocurrency course stabilized, and at the time of the publication of this news for one bitcoin they gave about $ 95,185.
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At the same time, the Ethereum course decreased by almost 20 %, falling below $ 2500. At the moment, one Ethereum costs $ 2566. The course of other large cryptocurrencies, such as Solana and XRP, has changed in a similar way. Against this background, the index of the largest digital assets of Coindesk 20 fell by almost 17 %, and the US President Donald Trump, the Trump President, fell into 12 %. The World Liberty Financial (WLFI), supported by Trump’s family, has also suffered from high market volatility.
A sharp decrease in the course of many cryptocurrencies is due to the new trade war, which, apparently, was charged with the American president, introducing 25 %tariffs for the import of goods from Mexico and Canada. In addition to this, he introduced duties of 10 % for goods from China. Many market experts were skeptical of an increase in duties, and the editors of the publication of Wall Street Journal even called the “most stupid trade war in history”.
The US President also plans to increase duties on goods from Europe, to which representatives of the European Union promised to react rigidly. It seems that the UK is the only country in the region that can receive a delay from increasing duties, as Trump recently stated. He also rejected criticism addressed to him, adding that China is likely to be dissatisfied with his policy.