Current currencies are the first victims of “Trump customs” .. and the Great Losing Ethere

The customers in the encrypted currency sector responded to the customs duties announced by US President Donald Trump by reducing their investment centers in a group of encrypted currencies.

The price of “Ethereum”, the second largest encrypted currency in the world in terms of market value, decreased by 27% to 2135 dollars on Monday morning in Asia, before it reduced its losses, according to the data collected by “Bloomberg”. This is the largest decrease during a trading day recorded by the cryptocurrency since May 2021.

Trump’s customs duties are expected to apply on billions of dollars in goods and goods imported by the United States from Canada and Mexico, and it is expected to cause disturbance in world trade. Trump also stressed his threats to impose customs duties on the European Union.

The negative morale in the market was cast on its shadow on other cryptocurrencies, as the price of “bitch” decreased at some point by about 6%, while the smaller digital symbols recorded greater losses..

Trump worries the encrypted currency market

Caroline Bowler, CEO of BTC Markets said((BTC Markets)“Trump’s customs warfare war affects the entire market. Fears that commercial wars and inflationary stagnation will lead to a stagnation that spreads at the level of (bitch) and other encrypted currencies.”

The fluctuations in the encrypted currency market represented a sharp change in the previous price route, which came thanks to Trump’s statements supporting the sector during his election campaign and after his election. The Republican President signed an executive order on January 24 to establish a working group that is expected to be submitted within six months clear rules regarding encrypted currency companies in the United States. The group was also assigned to evaluate the construction of a national coded currency.

Jonathan Yark, a first quantum trader of the market industry company “Akiron Trading(Acheron Trading)The fact that “the influence on (Ethereum) is greater than (Bitcoin), (Solana) and (Ripple), mainly due to expectations that the latter may be included in the US digital asset reserves as US administration companies. As a result, liquidity ( Ethereum) is much less powerful and vulnerable to larger volatility compared to its counterparts“.

Despite the optimism of Trump’s plans, his announcement of customs duties during the weekend “led to a great bet on the decline in prices on Saturday and Sunday to protect from the greatest repercussions on the global macroeconomic”, and in the current period, bearing the “formation” of the heavy sales wave better than the smaller currencies Which is witnessing a greater speculation, according to Sean McKellet, the director of derivatives in the Asia Pacific region of the main mediation company to deal in digital assets.((Falconx).

Trade war fire

In the derivative market, investment centers were liquidated weighted for the high price of cryptocurrencies worth one billion dollars during the first trading hours on Monday in Asia, and Ethereum was the most affected, according to the data of the Queen Glass platform(Coinglass)This is the largest liquidation size in one day since December 9.

Sean Dawson, Director of Research at the Cryptical Currency Trading platform “Deira S -Yz(Derive.xyz)The “risk of a long trade war with China, as well as the United States’ allies is not positive for the volatile digital assets sector based on interest rate Options contracts by 25% that Ethereum price is 2000 dollars before the end of this month.

At noon in Singapore, the price of “Ethereum” reached about $ 2,500, and “Bitch” 93 thousand dollars, while the price of “XRB” linked to “Ripple” 17% to $ 2.20 decreased to 2.20 dollars.

The total value of the cryptocurrency market fell by about 360 billion dollars on Monday, according to the “Queen Gakeo platform data(Coingecko)Also, the two MEM work launched by Trump and his wife Melania during the past weeks were affected by the heavy sales wave, and their price decreased 75% and 90% from their highest levels respectively, respectively.