Ethereum experienced its most significant decline in nearly four years, following the announcement of new tariffs. Investors reacted by reducing their risk exposure, leading to substantial market shifts.
During early trading in Asia, Ethereum, the world's second-largest cryptocurrency, plummeted by 26.53%, reaching a low of $2,135. This marked its largest single-day drop since May 19, 2021. Although the decline later moderated, the initial impact was significant.
The tariff announcement also affected other cryptocurrencies, with Bitcoin experiencing a near 6% drop at one point. The broader cryptocurrency market felt the pressure as investors reassessed their positions in response to the heightened economic uncertainty.
