- On April 2, President Donald Trump announced a sweeping tariff hike, imposing a universal 10% tariff on all imported goods effective April 5.
- In an X post, Santiment highlighted several crypto assets to watch during the volatile market, including ADA, ETH, BNB, Solana, RLUSD, and USDT.
President Donald Trump’s recent tariff announcements, aimed at countering unfair trade practices and increasing tax revenue, have influenced the cryptocurrency market. These policies have led to notable fluctuations in crypto prices and crypto-related stocks.
In response to these developments, various digital assets have been trending due to increased speculation, market activity, and major updates. According to market intelligence platform Santiment, Solana has been experiencing a surge in price predictions, technical analyses, and market discussions.
Key drivers behind Solana’s recent trend include PayPal’s adoption of the blockchain, as the payment giant officially added Solana (SOL) to its list of supported cryptocurrencies. Additionally, investor interest has been fueled by the U.S. Securities and Exchange Commission (SEC) acknowledging Fidelity’s filing for a Solana exchange-traded fund (ETF), alongside an increased level of price predictions for the cryptocurrency. It is worth noting that Solana reached its all-time high of $294 in January, but it is currently trading at $115, placing it 61% below its ATH.
Ethereum (ETH)
Ethereum continues to be a hot topic in cryptocurrency discussions, largely due to its significance in market analysis and technical evaluations. As Santiment noted, traders are closely watching the transition to Ethereum 2.0, particularly its implications for scalability and adoption. Adding to this, the highly anticipated Pectra upgrade is set to go live on May 7, with the goal of enhancing user interactions and improving developer workflows. This follows its full finalization on the Hoodi testnet, as discussed during the recent All Core Developers Execution (ACDE) call. Currently, ETH is trading at $1,776, reflecting a 5.84% decrease over the past week.
Ripple USD (RLUSD)
Ripple’s stablecoin, launched in December 2024, is designed to provide stability and liquidity within the Ripple ecosystem, and it has been trending due to its integration into Ripple’s payment systems. This move is meant to enhance cross-border transactions and boost enterprise-level efficiency. Furthermore, the stablecoin is positioning itself as a strong contender in the $100 billion+ stablecoin market. Reports also highlight a surge in adoption, with RLUSD trading volume increasing by 87%, surpassing $10 billion on platforms like Kraken.
Tether (USDT)
As the largest stablecoin issuer, Tether remains a dominant force in trading discussions, frequently mentioned in trading strategies where traders use it for take-profit targets and profit calculations. As mentioned in our earlier post, Tether has been expanding its Bitcoin reserves, recently adding 8,888 BTC and committing to allocating 15% of its profits for regular Bitcoin purchases, an effort aimed to enhance market liquidity.
Cardano (ADA)
Cardano, ranked 10th by market capitalization at $22.27 billion, is also a focal point in market trends and investment discussions. Recently, crypto analyst Ali Martinez reported significant whale selling activity, with 120 million ADA being sold in the past 48 hours. Currently, Cardano’s price stands at $0.632412 with a 24-hour trading volume of $1.49 billion, and CoinCodex predicts a potential 56% surge, bringing the price to $0.71. Additionally, Coinbase Derivatives received approval to offer CFTC-regulated futures for both Natural Gas and Cardano (ADA), further fueling investor interest.
Binance Coin (BNB)
BNB, the native cryptocurrency of the Binance exchange, is closely watched for its price movements and potential trading ranges. A recent CNF report highlighted VanEck’s filing for a BNB ETF, where the global investment management firm has officially registered a statutory trust in Delaware for the Binance BNB ETF. If approved, this move could increase demand, liquidity, and potentially boost BNB’s price, fueling speculation about its future market impact.
