As concerns around President Donald Trump’s tariff plans weighed on cryptocurrencies this week, ether experienced a sharper selloff than bitcoin — extending its underperformance despite some traders’ hope that it could make a turnaround this year.

Crypto markets saw $2.24 billion in liquidations after Trump’s tariff announcement. ETH took the hardest hit, losing over $609.9 million.

US tariffs imposed by President Trump have led to a significant downturn in the cryptocurrency market, with Bitcoin dropping 5% and Ether crashing over 26%. Smaller tokens also experienced declines, as investors reacted to the new trade measures against China,

As concerns around President Donald Trump’s tariff plans weighed on cryptocurrencies this week, ether experienced a sharper selloff than bitcoin, extending its underperformance, despite some traders’ hope that it could make a turnaround.

World Liberty Financial, the decentralized-finance project linked to Donald Trump’s family, appears to have added tens of million of dollars worth of the Ether cryptocurrency after crypto markets crashed during the weekend as the US president briefly imposed tariffs on Mexico and Canada.

Bitcoin, Ethereum, and Dogecoin have seen immense volatility in recent days, capped by a stronger performance on Tuesday as the market digests the macro environment. Ethereum's outperformance relative to Bitcoin and Dogecoin is notable,