The escalating situation on the crypto market became a topic of discussion following Peter Schiff's remarks on the negative consequences of new tariffs imposed by U.S. President Donald Trump.
Market Reaction to Trump's Tariffs
On April 7, 2025, Donald Trump announced a new set of tariffs that caused a sharp decline in global markets, including the crypto market. Peter Schiff, a well-known crypto critic, stated that 'cryptos are starting to crack' in light of these changes. He noted that major cryptocurrencies like Bitcoin and Ethereum suffered significant losses.
Currency Decline and New Crypto Initiatives
According to Peter Schiff's comments, Ethereum reached its lowest level since October 2023, while Bitcoin dipped below the $75,000 mark. However, the market appears to be gradually recovering, as evidenced by Bitcoin climbing back to $80,000 and Ethereum trading above $1,600.
Prospects of FloppyPepe (FPPE) Amid Market Downturn
The cryptocurrency FloppyPepe (FPPE) demonstrated resilience even amidst the general market decline. Growing demand for this coin is anticipated as new AI-driven initiatives, such as meme creation tools, are launched. Additionally, plans to construct a physical meme wall are set to attract community and artists' interest.
Donald Trump's new tariffs had a significant impact on the crypto market, yet signs of recovery are emerging. Projects like FloppyPepe continue to attract investor attention with their unique offerings and resilience.
