Crypto Market Experiences Major Liquidation Event Amid Tariff Announcement
Donald Trump’s proposal to impose significant tariffs on imports from Mexico, Canada, and China has led to a substantial sell-off in the crypto market. The total market capitalization decreased by $500 billion over the weekend.
Reported liquidations are estimated at $2.27 billion, but Bybit's CEO suggests actual figures may reach between $8 billion and $10 billion. Most liquidations are linked to long positions, as traders anticipated positive outcomes from Trump's presidential nomination. Additionally, Trump's meme coin, $TRUMP, fell 40% in the past week.
Key points to note:
- The crypto market faced a correction due to political factors.
- Long positions saw the highest liquidations.
- $TRUMP experienced a significant price drop.
Despite the downturn, certain cryptocurrencies have become available at lower prices, potentially providing buying opportunities for investors focusing on fundamentally strong tokens.
Potential Investment Opportunities
- Solaxy ($SOLX) – Gaining traction with a presale raising over $17 million, benefiting from the Solana ecosystem's recent growth.
- Best Wallet Token ($BEST) – Capitalizing on the increasing non-custodial wallet market share, with presale funding exceeding $9 million.
- Meme Index ($MEMEX) – Offers diversified exposure to meme coins with varying risk levels, already raising over $3 million since December 2024.
- Fartcoin ($FARTCOIN) – A meme coin that surprisingly increased by 13.78% despite market conditions.
- Dogecoin ($DOGE) – The original meme coin has rallied 12% and remains stable during market dips.
Investors should exercise caution during this volatile period and conduct thorough research before making investment decisions.