Bitcoin buoyed
What's being bought and sold*
TOP TRENDING ASSETS
*Trading activity in the past 24 hours on the Uphold platform, as of 8 a.m. 2nd April 2025.
The combined total of buy and sell percentages can exceed 100% due to customers who engage in both buying and selling the same asset within the 24-hour time frame.
Don’t invest in crypto unless you're prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 minutes to learn more.
What’s up
In Tense Lull, Biggest Crypto Hangs Tough
Total crypto assets are down slightly but Bitcoin is steady, hanging on to its perch at $85,000 with U.S. tariffs set to be unveiled today. Still entirely shrouded in mystery and possibly subject to future alterations, the trade policy announcement at 4 p.m. (EST) has created an unprecedented macroeconomic cliffhanger. Refusing to be caught in limbo, BTC notched a 1.7% gain in the past 24 hours, as of 9:05 a.m. (EST).
One particularly brash mover caught our eye this uneasy morning: Eos Network's native EOS, up 15% to nearly 80 cents. EOS' market capitalization is nearly $1.2 billion, making it the 72nd-largest token, per CoinGecko. What's Eos? It's an old-school blockchain which has regained popularity this bull cycle, said Coinspeaker. Eos is in the midst of rebranding to Vaulta as part of a pivot to Web3 banking. To that end, the network has just announced the formation of an advisory council of fintech and banking leaders.
What's down
And A Childish Coin Shall Lead Them
Spearheading a surprising memecoin surge, Solana-run, AI-sired FARTCOIN rose by 20% at one point yesterday. Despite a market-cap rebound (from $200M to $500M in the past month), FARTCOIN's cap remains well below its peak.
"Fartcoin as the top memecoin leader on April Fool’s Day may be a coincidence," Decrypt said. "But the token’s rebound comes amid an apparent sentiment shift among Solana memecoin traders hoping for another potential run."
Fartcoin could be “a Trojan horse for the entire sector," said pseudonymous crypto commentator Artchick, posting on X, suggesting memes are plotting a sneaky offensive.
FARTCOIN was about 51 cents when we checked it early this morning. It's down 80% from its all-time high of $2.48 on Jan. 19, per CoinGecko.
What's next
Trade Tumult Has Silver Lining That Might Bode Well For Digital Gold
It'll be at least a few weeks or maybe even months before investors can glean any sense of how impactful the Trump tariffs will actually be. It'll depend in large part on world leaders who will either decide to (perhaps begrudgingly) get on board with a new, more balanced trade relationship with the U.S. or instead retaliate with rounds of their own tit-for-tat tariffs. A genuine trade war remains roughly a 50/50 proposition, per Mohamed El-Erian, chief economic advisor at Allianz. "I don't think anybody knows," El-Erian told CNBC.
Although he did warn that the latter scenario — option B, reciprocity — could lead to stagflation, or an economic witch's brew of low growth and rising inflation.
But there's also a chance for a major rewiring of the global economy, El-Erian said.
And while economic uncertainty has led some investors to seek out gold, pushing the precious yellow metal to new highs, tariffs, analysts told CoinDesk, ultimately could lead to a weakening of the dollar's dominance, benefiting Bitcoin.
For now, gold remains the safe haven of choice as risk appetites wane. Gold is up 18% YTD.
