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President Donald Trump’s announcement of tariffs on import goods from Mexican, Canadian, and China over the weekend caused the crypto prices to sink. Bitcoin dropped to $91,441.89 overnight but is now standing at $101,092.39.
While the other cryptocurrencies plummeted their prices, new altcoin JetBolt (JBOLT) is holding steady with its new milestone of surpassing 310 million tokens sold since its launch. JetBolt continues to captivate buyers and whales with its zero-gas technology and other next-gen features.
Why did the crypto prices tank on the impose of tariffs, and what’s fueling JetBolt to attract whales? Let’s find out.
The initiation of tariffs by President Donald Trump on Sunday jolted the crypto market, causing crypto prices to sink. The new US tariff rule which takes effect today, February 4, will impose a 25% tariff on Mexico and Canada's imports and a 10% tariff from China’s goods. Despite the implementation of the tariff today, Trump pauses the tariff rule on Mexico and Canada for a month, as both countries pledged to boost border security.
Because of Trump's tariff order, a quarter of the 100 largest cryptocurrencies declined by 20% on their prices based on Reuters. Not only that, CoinGecko also displayed how the overall crypto market's value went down by 9% to $3.2 trillion. This downturn sparked a $2.3 billion liquidation after the tariff announcement, according to CoinGlass.
Meanwhile, the leading cryptocurrency Bitcoin (BTC) sank to $91,441.89 on February 3, but is now standing at $101,092.39. Ethereum (ETH) also experienced a 20% drop and XRP (XRP) declined by 24.94% in the post announcement of tariff. In spite of the dips, ETH already showed a slight recovery by gaining 7.88% in the last 24 hours while XRP increased by 10.91% on its 24-hour growth.
Why is the crypto market affected by the new US tariff rule? Analysts said tariffs can spike inflation, causing the central bank to slightly change the interest rates. While this newly imposed tariff is hurting the economic market, analysts believe the crypto market can recover from the recent price down.
The cryptocurrency market’s decentralized operations shields itself from the drastic market turbulence with its slightly different nature from traditional financial systems. Analysts also suggest the crypto market can recuperate as long as the investors’ confidence on these digital assets remains strong and macro sentiment interest on the crypto market sustains.
While analysts remain optimistic about the recovery of the crypto market from the turbulence caused by the tariffs, JetBolt (JBOLT) has hit a new milestone with its presale of over 310 million tokens sold since its launch. The crypto community wonders, what’s fueling this young token to captivate buyers and whales?
Powered by the Skale Network, JetBolt offers zero-gas technology which eliminates the gas charges entirely in blockchain transactions. This blockchain innovation resolves one of the most persistent barriers in blockchain—the sky-high cost of gas fees.
As a next-gen crypto, JetBolt adapts the power of artificial intelligence (AI) by using an AI-aggregation tool to deliver crypto trending news and stories based on market sentiment. JetBolt’s innovations also include a Web3 wallet, which highlights WebAuthN protocol that has biometric security and self-custodial control function.
To provide a more streamlined experience for its users, JetBolt features lightning-fast transactions and near-instant finality. Users can save time waiting for confirmation during transactions with these gripping features.
More than tech expertise, JetBolt’s intuitive rewarding system makes the traditional staking process fun and engaging. Through its Proof of Attendance and Worth (PAW) protocol, users who daily log in, stake, and connect with other token holders on the platform get additional rewards.
Besides staking rewards, JetBolt’s early adopters can get up to 25% more bonus tokens when they purchase Alpha Boxes or token bundle deals. Meanwhile, JetBolt’s token price also increases daily ahead of its official launch.
Even at a presale phase, JetBolt sustains momentum. Its Web3 wallet integration, infusion of AI technology, and staking rewarding system is fueling the soaring interest in this young token.
While the crypto market is down due to the new tariff rule imposed by President Donald Trump, analysts believe the crypto market can recuperate from this economic turbulence. As long as investor confidence remains strong and macro market sentiment interest in crypto maintains, the crypto market could hold above the effects of the new tariff rule.
In other news, JetBolt (JBOLT) is holding steady with its new milestone of exceeding 310 million tokens sold ahead of its official launch. Alongside its zero-gas technology by Skale’s high tech blockchain, an integrated Web3 wallet, and other stunning features, JetBolt distinguishes itself as a possible candidate to be one of the emerging altcoins this 2025.
This write-up is not financial advice. All cryptocurrencies come with significant risks and the market shifts very often. Please conduct your own extensive research prior to purchasing any cryptocurrency or taking any step related to this field. Trade responsibly.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
