- XRP and Ethereum led a crypto rebound after Trump reintroduced tariffs on major trade partners.
- Ethena, Stellar, Injective, and BONK posted double-digit gains, but still remain down over the past week.
- Global markets—including crypto—remain shaky as new tariffs trigger volatility across asset classes.
Altcoins are at the forefront of a crypto market bounce following a rough week dominated by political volatility. President Trump reignited his trade war on Thursday, hitting major trade partners with tariffs of up to 41%, sending shockwaves through traditional and digital markets. Despite the turbulence, XRP and Ethereum climbed 4.5% and 2.7% respectively, leading the top 10 cryptocurrencies by market cap according to CoinGecko.
XRP has gained attention as Myriad Market predictors now give a 64% chance that an XRP ETF will be approved before Litecoin’s. Ethereum, meanwhile, has closed the gap to its all-time high, now down just 27% from its peak of $4,878.26. There’s a 54.4% chance it will break its previous record this year, per Myriad forecasts.
Ethena, Stellar, Injective, and BONK Surge
Several altcoins beyond the top 10 also posted notable gains. Ethereum-based stablecoin DeFi protocol Ethena surged 10.8%, leading the pack. Stellar followed closely with an 8.1% climb, while Injective and Solana meme coin BONK jumped 5.9% and 5%, respectively. These altcoins have gained traction in the last 24 hours, signaling renewed investor appetite.
However, despite the current bounce, many of these tokens remain in the red over the past seven days, reflecting broader market uncertainty and volatility triggered by Trump’s renewed tariff campaign.
Global Trade War Rattles Markets
President Trump’s move to reinstate sweeping tariffs on dozens of trade partners—including China, Canada, the European Union, Mexico, and the UK—ranged from 10% to 41%. The decision triggered an immediate market reaction. The S&P 500 plunged 3.33% from Thursday’s high into Friday, highlighting investor concern over escalating trade tensions.
Crypto followed suit. Bitcoin and Ethereum fell 2.1% and 3.8% respectively, while XRP and Solana mirrored the trend with similar losses, painting a grim picture for digital assets heading into the weekend.
A Fragile but Positive Start to the Week
As the new week begins, signs of a recovery are visible. The global crypto market cap has inched up nearly 1% in the past 24 hours. Bitcoin, BNB, and Solana are holding steady with minimal movement. The one outlier is Hyperliquid, which has dropped 4% from its position yesterday—making it the biggest laggard of the day so far.
With geopolitical headwinds and market narratives evolving rapidly, altcoins appear to be the sector most responsive to renewed optimism—or fresh uncertainty.
