. Cryptocurrencies are recording near-collective gains this morning, Tuesday, April 8, after a series of sharp declines since President Trump announced the latest tariffs, a loss of more than 30% in their market value compared to its peak in December 2024. Bitcoin, the world’s most valuable digital currency, is trading at $79,640,000, up 3.50% this morning, with its market capitalization rising to $1.58 trillion.
The tariffs announced by the White House at the end of last week and taking effect on April 5th, with a 34% tariff on China, 24% tariff on Japan, and 20% tariff on the European Union, have increased market uncertainty and increased market expectations of a global economic recession, putting pressure on cryptocurrency markets.
With calm returning to markets during Tuesday’s session, with US stocks rising according to futures markets, the combined market capitalization of the cryptocurrency market, according to Coingecko, which includes more than 17,000 cryptocurrencies, rose 1.5%, bringing the market capitalization to $2.6 trillion.
This is a low level compared to December’s $3.9 trillion. The Fear and Greed Index in the cryptocurrency market, which measures the general mood and sentiment of traders and investors in the cryptocurrency market, continues to reflect investor fear levels and stands at 19 points this morning, compared to 17 points on Monday, reflecting some positivity, liquidity inflows, and risk appetite.
Ethereum, the second-largest cryptocurrency, is trading up approximately 6.35% at $1,580,000, with a market capitalization estimated at $190 billion.
XRP, or Ripple, continues to maintain its position as the world’s fourth-largest cryptocurrency by market capitalization, rising by approximately 159% on Tuesday, trading at $1.92, with a market cap of $112 billion. Dogecoin is up approximately 11%, trading at $0.1541, with a market cap of $22 billion.
Cardano is up approximately 9.89%, trading at $0.5989, with a market cap of $21 billion.
Solana is up approximately 11.55%, trading at $110, with a market cap of $57 billion. Shiba Inu is up approximately 4.5%, trading at $0.00001132, with a market cap of $6 billion.
13/04/2025
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