XRP and Dogecoin Surged 20%, Then Dipped as China Tariffs Dent Crypto Rebound
Donald Trump’s decision to impose tariffs on imports from Canada, Mexico, and China led to a steep drop in bitcoin and broader equity markets on Monday.
Donald Trump’s decision to impose tariffs on imports from Canada, Mexico, and China led to a steep drop in bitcoin and broader equity markets on Monday.
Ondo Finance’s native token, MANTRA’s OM and Chintai’s CHEX posted double-digit gains during the crypto rebound, while many altcoins still nursed losses.
S&P 500 futures slid 1.4%, Dow Jones future fell 1.2% and futures on the tech-heavy Nasdaq 100 lost 1.7%
Buying the taban after a massive liquidation flush and higher demand for stablecoin could fuel growth in bitcoin and the broader crypto market, some say.
Ether’s DVOL spiked above 100% during Asian hours as the crashing price saw traders chase put options.
TRUMP was issued a couple of days before Trump’s swearing-in ceremony on Jan.20 as the first-ever memecoin officially endorsed by a sitting president.
The market cap of USDe has pushed past $6 billion, and the peg remains virtually stable, despite the market bloodbath.
XRP, dogecoin (DOGE) and Cardano’s ADA fell more than 25% to reverse all of the gains since December, reaching pre-U.S. election levels from early November.
The stablecoin market has grown by almost $40 billion since President Trump won the U.S. election.
BTC takes a breather as Trump’s tariff threat bodes well for gold, and the uptick in Tokyo inflation supports BOJ rate hikes.