fbevents
로고와 STAT 라이브

Bitcoin also plummets... Ethereum and Ripple drop by double digits

Source
Korea Economic Daily
공유하기
  • It was reported that Bitcoin prices plummeted due to the impact of President Trump's tariff policy.
  • It was stated that altcoins, including Ethereum and Ripple, recorded a larger decline with a double-digit drop.
  • It was reported that economic instability due to the U.S. tariff war raised concerns about a delay in the Federal Reserve's interest rate cuts.
STAT AI Notice
  • The article was summarized using an artificial intelligence-based language model.
  • Due to the nature of the technology, key content in the text may be excluded or different from the facts.

Bitcoin prices plummeted due to the tariff shock initiated by Trump. Altcoins (cryptocurrencies other than Bitcoin) such as Ethereum and Ripple, which have smaller market caps than Bitcoin, showed a double-digit decline. This is analyzed to be due to concerns that the inflation pressure from the U.S. tariff war will delay the timing of the Federal Reserve's interest rate cuts.

According to the domestic cryptocurrency exchange Upbit, Bitcoin recorded 149,979,000 KRW as of 2 PM, down 2.61% from 24 hours ago. This is the first time since the 17th of last month that Bitcoin has fallen below the 150 million KRW mark domestically. The decline was steeper in overseas markets. Bitcoin traded at 92,880.24 USD, down 6.72% at the same time.

The decline was even greater for Ethereum, ranked second in market cap, and Ripple, ranked third. Ethereum fell 12.13% to 3,994,000 KRW. It is the first time in about three months since November last year that Ethereum has broken below the 4 million KRW mark. Ripple plummeted 13.91% to 3,511 KRW.

The cryptocurrency market has panicked due to the aftermath of U.S. President Donald Trump signing an executive order to impose additional tariffs on Mexico, Canada, and China.

Reporter Jo Mi-hyun mwise@hankyung.com

BTC
ETH
XRP
publisher img

Korea Economic DailyholderBadgeholderBadge dark

hankyung@bloomingbit.ioThe Korea Economic Daily Global is a digital media where latest news on Korean companies, industries, and financial markets.