Over the weekend, President Trump announced new tariffs on imports from the U.S.’s top trading partners—Canada, Mexico, and potentially China—triggering a decline in the cryptocurrency market.
The cryptocurrency market has grown highly reactive to President Trump’s actions, with many of his moves triggering immediate responses. Most major cryptocurrencies have dropped by double digit percentages in the past 24 hours, and it remains to be seen whether they will recover this week.
Trump’s tariff announcement has slammed Bitcoin. The leading cryptocurrency has fallen below $95,000 and continues on a downward trend. Its volatility has unsettled the broader crypto market, with all major cryptocurrencies significantly declining.
Currently, Bitcoin is trading at $94,869, marking a weekly decline of over 5%.
Ether, the second-largest cryptocurrency by market capitalization, is faring even worse than Bitcoin. The native token of Ethereum — the backbone of hundreds of decentralized apps (dApps) — has followed Bitcoin’s lead, plunging even further.
Currently, Ether is trading at $2,568, representing a decline of over 17% in a week.
Solana is one of the fastest-growing major cryptocurrencies. A key competitor to Ethereum, the Solana blockchain has emerged as a strong contender for hosting hundreds of decentralized applications (dApps). Solana is declining, mirroring Bitcoin’s price movements, and its trajectory is important to monitor this week.
Solana is trading at $194, a 16% decrease since last week.
Popular memecoin Dogecoin is sliding following Trump’s latest tariff announcement. Tesla (TSLA) CEO Elon Musk’s favorite cryptocurrency remains highly volatile and reactive to Trump’s statements, making it one to watch this week.
Currently, Dogecoin (DOGE) is trading at $0.25, down more than 21% over the past week.
Mantra is a specialized blockchain network dedicated to the issuance, trading, and secure management of tokenized real-world assets (RWAs). By enabling the tokenization of these tangible assets, Mantra is bridging the gap between traditional finance and blockchain technology.
Recently, Republic Crypto, a cryptocurrency advisory firm that provides services to investors and companies in the blockchain and cryptocurrency sectors, joined the Mantra ecosystem to enhance the investor experience. Prior to this, Mantra entered into a significant $1 billion agreement with DAMAC Group, a Dubai-based property conglomerate, to tokenize at least $1 billion of its assets in the UAE.
The native token of Mantra, OM, is on the rise and is currently trading at $5.24, reflecting a 13% increase in just one week.
