Ethereum, Solana, and Cardano Plunge Double Digits as the Crypto Market Rout intensifies

As a result of President Trump’s massive new tariffs, ethereum and solana prices fell overnight and crypto liquidations dropped past$ 1.4 billion.

The Ethereum price is currently down 16.4 %, dribbling down to$ 1,485 after briefly retracing its lowest level since October 2023 during Asian trading hours.

Meanwhile, Cardano’s price dropped by 15.2 % to$ 0.5412 on the day, dropping as low as$ 90.70 before gaining ground at the time of writing.

S&amp, P 500 agreements and Nasdaq prospects both fell 6.2 % by Sunday night, in response to a whirlwind trip that saw securities markets react with” circuit break” steps, as the broad-based crypto market sell-off continued in tandem with futures markets.

Following Trump’s” Liberation Day” pronouncements, which targeted tariffs of 34 % for Chinese goods and 20 % for those from the European Union, heightened concerns about a global trade war.

According to Vincent Liu, key investment officer at Kronos Research,” coins reemerged from a strong selloff” as Trump’s mutual taxes sent nations “scrambling to renegotiate trade words.”

According to Liu,” the uncertainty dragged Solana ( SOL ) and Ethereum ( ETH) into a steep downtrend,” as traders “offload risk in the face of mounting macro tensions,” the price” smells of profit-taking.”

All of these variables “are causing significant effects on mood across the cryptocurrency room and have been “amplifying worldwide economic jitters,” Liu noted.

Over 61 % of punters at Myriad Markets, a blockchain prediction platform created by parent company DASTAN, predict a U.S. recession in the coming year. Disclosure: Dastan, the parent company of a institutionally independent , created Myriad as a prediction industry and engagement system.

Ryan Yoon, older research scientist at Tiger Research, told that Trump’s “demand Federal Reserve interest rate breaks” will address the challenges ahead.

The Federal Reserve would probably find it difficult to implement rate reductions in the near future as important prices indicators like the CPI and PPI are released, Yoon said. That possibility” suggests limited possibility for short-term business development,” he said.

Yoon identifies a crucial moment in how tax disputes have grown beyond earlier tense zones.

The current scenario has expanded to include international markets more broadly, Yoon noted, while prior tax issues mainly involved the US and China. Such a situation “necessitates close attention to negotiations and outcomes” over a longer period.

The general public of investors surveyed by the American Association of Individual Investors shows “unusually low” bullish sentiments at 61.9 %, which is the third highest reading on record, despite the fact that the crypto market sentiment has deteriorated and deteriorated quickly.

edited by Stacy Elliott.