Ethereum experienced a significant drop in its value, falling to lows of $2,368 after US President Donald Trump announced new tariffs. The cryptocurrency is currently trading at $2,544, down 17.8% on the day. The broader crypto market saw over $2.3 billion in total liquidations across 738,000 traders in the last 24 hours, with Ethereum accounting for $611 million in combined long and short positions. However, some believe the actual total liquidation could be much higher, with estimates of $8-10 billion. The crash is believed to be linked to uncertainties surrounding the Ethereum Foundation's leadership and its efforts to appeal to institutions. The sudden decline is Ethereum's largest intraday loss since May 2021.



Other News from Today