Ether, altcoins dive double digits as Trump tariffs take further toll
Ether, Cardano, Avalanche, XRP, Chainlink and Dogecoin all dropped over 20% over the past 23 hours after US President Donald Trump imposed his first round of tariffs.
Ether and top altcoins, including Cardano, fell double digits in an hour as the market continued to reel from US President Donald Trump’s first round of tariffs against imports from China, Canada and Mexico.
Ether
ETH$2,620, the second largest cryptocurrency by market capitalization, fell 16% in a single hour to $2,368 on Feb. 3 at 2:11 am UTC.
It has since recovered to $2,521 but is still down 38% from its 2024 high of $4,078 reached on Dec. 17 — nearly six weeks after Trump’s presidential victory.
Meanwhile, Avalanche
DOGE$0.249 and other top altcoins have fallen over 20% in the last 24 hours, contributing to an 11.4% drop in the crypto market cap to $3.17 trillion, CoinGecko data shows.