Web3đMonday Shake-Up: TRUMP Token Tanks, Ethereum Leads Liquidations & Japan Eyes Tax Reform!
1. TRUMP Token plummets 75%, despite Trumpâs push on Truth Social.
2. Ethereum leads $2.24B liquidations as tariff wars heat up.
3. El Salvador limits BitcoinâBukele buys more!
4. Japan PM calls crypto "crucial" ahead of 2025 tax review.
Read on for more insights!đ€©
Crypto markets are buzzing, and the headlines are hotter than ever! From TRUMP tokenâs massive 75% plunge to Ethereum spearheading $2.24 billion in liquidations, the industry is in flux. Meanwhile, El Salvador tightens Bitcoin regulationsâyet President Bukele keeps buying. And over in Japan, the Prime Minister is calling crypto "extremely important" ahead of a major 2025 tax review. Whatâs driving these shifts, and what do they mean for the future of crypto? Letâs dive into the latest market shake-ups!
1. TRUMP Token plummets 75%, despite Trumpâs push on Truth Social.
The TRUMP token has taken a massive hit, plunging 75% from its peak despite being the first-ever memecoin officially endorsed by a sitting president. Launched just before Trumpâs swearing-in, the token skyrocketed to a $14 billion market cap within 48 hours but has since crashed, dipping to $19.09âbelow its initial exchange listing price. Even Trumpâs enthusiastic "I LOVE $TRUMP!!" post on Truth Social failed to revive it. The decline isnât isolated, as Trumpâs new trade tariffs on Canada and Mexico triggered a broader market slump, with BTC down 6% and DOGE & XRP losing over 25%.
Shaurya Malwa
2. Ethereum leads $2.24B liquidations as tariff wars heat up.
Over the past 24 hours, $2.24 billion was liquidated from the crypto markets, affecting 730,000 traders, with Ether (ETH) leading the charge. The massive sell-off, caused by growing geopolitical uncertainties such as Trumpâs tariffs, surpassed the impact of both the FTX collapse and the COVID-19 crash. Binance saw the highest share of liquidations, accounting for 36.8%. Most of the liquidations were long positions, totaling $1.88 billion. Despite the downturn, Bitcoin ETFs are attracting strong investments, setting up a potential $50 billion in inflows by 2025, even as market sentiment hits âfearâ levels.
Arijit Sarkar
3. El Salvador limits BitcoinâBukele buys more!
El Salvador has continued its Bitcoin acquisition strategy, purchasing 52 BTC since the start of 2025, bringing its total holdings to 6,055 BTC, valued at nearly $600 million. Despite agreeing to scale back its crypto ambitions under a recent $1.4 billion loan deal with the IMF, which requires the country to make Bitcoin acceptance voluntary, limit public sector involvement, and reduce the role of the Chivo Wallet, the government remains committed to adding more Bitcoin. President Bukele sees Bitcoin as a tool for financial inclusion, continuing to buy daily using a dollar-cost averaging strategy.
Kyle Baird
4. Japan PM calls crypto "crucial" ahead of 2025 tax review.
Japanâs Prime Minister Shigeru Ishiba emphasized that the development of Web3 and crypto assets is crucial for addressing the countryâs social and financial challenges. Finance Minister Katsunobu Kato confirmed that Japan will finalize its crypto tax rate by June 2025. The current system, taxing crypto as miscellaneous income, can reach up to 55% on profits. However, there are proposals to lower this to around 20% to enhance Japanâs global competitiveness. The government is also exploring changes to the legal classification of crypto assets, considering input from various stakeholders to foster innovation in the sector.
Rony Roy
The crypto landscape is evolving fast, with market swings, regulatory shifts, and bold moves from global leaders. Whether it's TRUMP tokenâs crash, Ethereumâs liquidation surge, or Japanâs crypto-friendly stance, one thing is clearâchange is constant. As investors and enthusiasts navigate these twists, staying informed is key. Will El Salvadorâs latest bill reshape Bitcoin adoption? How will Japanâs tax review impact the industry? Only time will tell, but one thingâs for sureâcrypto never sleeps!
