Sign In
  • Africa
  • African
  • Trump
  • South
  • Guardian
  • Mail
logo
  • Home
  • Ghana
  • Africa
  • World
  • Politics
  • Business
  • Technology
  • Sports
  • Entertainment
  • Health
  • Crime
  • Lifestyle
Reading: Crypto Stocks Drop After Trump Unveils New Tariffs
Share
African News HeraldAfrican News Herald
Font ResizerAa
Search
  • Home
  • Ghana
  • Africa
  • World
  • Politics
  • Business
  • Technology
  • Sports
  • Entertainment
  • Health
  • Crime
  • Lifestyle
Follow US
© 2024 africanewsherald.com – All Rights Reserved.
African News Herald > Blog > Business > Crypto Stocks Drop After Trump Unveils New Tariffs
Business

Crypto Stocks Drop After Trump Unveils New Tariffs

ANH Team
Last updated: April 3, 2025 2:10 pm
ANH Team
Share
SHARE

U.S. Crypto Stocks Plummet in Response to Trump’s Tariff Announcement

In premarket trading on Thursday, U.S. crypto stocks took a nosedive following President Donald Trump’s announcement of sweeping tariffs on various countries. This move has sent shockwaves through the investment community, leading to a sell-off of riskier assets as global trade tensions continue to escalate.

Leading crypto exchange Coinbase Global saw a significant decline of about 4%, bringing its value down to $82,000. Similarly, major bitcoin holder Strategy experienced a 3% drop. Mining stocks were also heavily affected, with MARA Holdings, Riot Platforms, and Bitfarms losing around 4%, 5%, and 6% respectively.

The impact of the tariffs was felt across multiple asset classes, with Bitcoin, the largest cryptocurrency, falling by 2.3% and Ethereum experiencing a 3.3% dip. Ethereum (ETH) saw a loss of 2.96%, trading at $1,823.34, while XRP dropped by 2.21%, settling at $2.05. Solana (SOL) faced even steeper losses, shedding over 9% at one point.

Prior to the recent downturn, Bitcoin (BTC) was trading at around $85,000.

Despite the Trump administration’s relatively positive stance on crypto regulation, the broader economic instability linked to the sector is still causing concern among investors. However, analysts have noted that the impact on crypto assets seems to be less severe compared to other industries.

“The price action highlights crypto’s hyper-democratic and borderless nature, allowing investors worldwide to hedge against the potential impact of macroeconomic uncertainties,” said David Hernandez, a crypto investment specialist at 21Shares, in a note to Reuters.

Marco Iachini, senior vice president of research at Vanda Research, suggested that crypto exchange-traded funds could become more attractive to retail investors seeking opportunities. However, he warned that the flow of investments could dwindle if the market becomes increasingly unstable.

See also  Poll: Majority of Americans Support Trump Transition

Trump’s tariffs, which are among the most far-reaching in U.S. history, include a 10% baseline tax on all imports, a 25% levy on foreign-made cars, and reciprocal duties set at 50% of the rates imposed by other nations on American exports.

This proposal affects 185 countries, including Nigeria, which now faces a 14% tariff on its exports to the U.S., in contrast to the 27% tariff imposed by the U.S. on imports from Nigeria.

According to data from the Nigerian Bureau of Statistics (NBS), between 2015 and 2024, Nigeria’s trade with the U.S. totaled N31.1 trillion, with imports reaching N16.4 trillion, accounting for 8.7% of the total trade volume.

Subscribe to Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

I have read and agree to the terms & conditions
TAGGED:cryptoDropStockstariffsTrumpunveils
Share This Article
Twitter Email Copy Link Print
Previous Article Ramaphosa wants the DA to remain in the coalition – The Mail & Guardian
Next Article USDA Paid to Study ‘Queer Farmers’, ‘Latinx’ Masculinity, and Worse on Taxpayer Dime
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Editor's Pick

Dear Bar Council of England and Wales, and the Commonwealth Lawyers Association

Response to Joint Statement on Suspension of Chief Justice of Ghana Dear Madam and Sir, We have taken note of…

August 21, 2025 3 Min Read
Police Thwart Pre-Dawn Bank Heist in Winneba

Police Thwart Armed Robbery Attempt at MRB Rural Bank in Winneba Law…

1 Min Read
Ghana Mother Charged for Burning Son With Iron Over Lost Pen

A Ho Circuit Court has remanded 25-year-old cook Jemima Kwaku after she…

2 Min Read

Lifestyle

Against All Odds: Monica Kafui’s Triumphant Journey to Becoming a Registered Nurse

  Against All Odds: Monica Kafui’s Triumphant Journey to Becoming a Registered Nurse

Accra, Ghana — In a story that echoes resilience, sacrifice,…

September 11, 2025

My stepmother wants to hand over my dad’s company to my stepsister

File photo of a worried woman…

September 8, 2025

Health benefits of pawpaw

Pawpaw boosts digestion, immunity and heart…

September 8, 2025

Don’t worry about ‘push gifts’ — Dr Boakye

A new article on the topic…

September 8, 2025

My wife wets our bed all the time and it’s getting out of hand

File photo of a worried man…

September 8, 2025

You Might Also Like

Business

Serene Insurance CEO wins top most award at two industry events

Kwame Antwi, commended Mercy for her outstanding achievements and recognition in the insurance industry, stating that her leadership has been…

5 Min Read
Business

Absa Bank Ghana wins 13 honours at 5th National Governance and Business Leadership Awards

Absa Bank Ghana has been recognized with 13 prestigious awards at the 5th National Governance and Business Leadership Awards (NGBLA…

3 Min Read
This Is The Hyperbolic Line Trump Can’t Stop Using. And Here's What It Really Means.
World

This Is The Hyperbolic Line Trump Can’t Stop Using. And Here’s What It Really Means.

Trump's Exaggerated Claims: A Look at the President's Hyperbole President Donald Trump is known for his grandiose statements and exaggerated…

2 Min Read

U.S. shifts deportation plan from Uganda to another African nation after migrant’s legal appeal

The recent decision to send Abrego to Eswatini instead of Uganda comes after a successful legal challenge against the initial…

2 Min Read
logo logo
Facebook Twitter Youtube

About US

Stay informed with the latest news from Africa and around the world. Covering global politics, sports, and technology, our site delivers in-depth analysis, breaking news, and exclusive insights to keep you connected with the stories that matter most.

Top Categories
  • Africa
  • Business
  • Entertainment
  • Sports
Usefull Links
  • Home
  • Contact
  • Privacy Policy
  • Terms & Conditions

© 2024 africanewsherald.com –  All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?