Ethereum's Sharp Decline Amid Economic Tensions

On Thursday, Ethereum experienced a significant drop, losing over 2% of its value. This downturn comes as global economic tensions escalate, following the latest round of trade tariffs imposed by major economies.

Wider Impact on Cryptocurrency Markets

The cryptocurrency market felt the ripple effects, with Bitcoin also seeing a decrease of 0.97%, trading at $82,345.31. Ethereum, however, was hit harder, with its price falling to $1,778, marking a 2.08% loss at the same time.

Behind the Scenes: Trade Tariffs and Retaliatory Measures

The decline in Ethereum and other cryptocurrencies is part of a broader retreat from risk assets. Investors are reacting cautiously to China's retaliatory measures, which were prompted by the United States' introduction of extensive new tariffs.