The crypto market rebounded sharply after US President Donald Trump paused proposed tariffs on Canada and Mexico. But the trade battle with China is intensifying.
BTC, ETH, and Altcoins Rebound
Following a brief crash caused by political positions assumed in the US, the crypto market is back to green. The total cryptocurrency trading volume is up 1.4% over the last 24 hours to $3.33 trillion.
Bitcoin (BTC) increased by nearly 4%, currently trading at $98,723. For a while, on 3-4 February, it once again surpassed the $100,000 mark before falling back below it.
Ethereum (ETH) rose just below 7%, changing hands at $2,716.
BTC 24h price chart:
Additionally, while there were barely any green coins yesterday, the majority of the top 100 coins per market cap have seen their prices rise today.
All top 10 coins appreciated in this time frame as well, led by XRP’s 7% rise to the price of $2.53.
Meanwhile, the Crypto Fear & Greed Index has moved from Fear recorded yesterday to Greed seen today.
This index measures market sentiment. Its current score is 72 out of 100.
Trade War Reversed…Almost
As previously reported, Donald Trump announced his decision last Friday to slap trade tariffs on Canada, Mexico, and China. This led to international turmoil and a plunge in the crypto market.
But Trump quickly reversed his stance when it comes to Canada and Mexico, continuing the negotiations between these countries.
On 3 February, Canadian Prime Minister Justin Trudeau said that the two nations agreed the US would pause the 25% tariffs “for at least 30 days while we for together.”
In exchange, Canada promised to implement a $1.3 billion border plan that includes fighting organized crime, money laundering, and the flow of fentanyl and adding 10,000 more people to the Canada-US border.
I just had a good call with President Trump. Canada is implementing our $1.3 billion border plan — reinforcing the border with new choppers, technology and personnel, enhanced coordination with our American partners, and increased resources to stop the flow of fentanyl. Nearly…
— Justin Trudeau (@JustinTrudeau) February 3, 2025
Similarly, Mexico President Claudia Sheinbaum said on Monday that the tariffs would be paused for a month following a call with Trump.
Mexico also promised to reinforce the Mexico-US border with 10,000 members of the National Guard. The goal is to prevent drug trafficking from Mexico to the US, particularly fentanyl, as well as the trafficking of “high-powered weapons” to Mexico.
Sostuvimos una buena conversación con el presidente Trump con mucho respeto a nuestra relación y la soberanía; llegamos a una serie de acuerdos:
1.México reforzará la frontera norte con 10 mil elementos de la Guardia Nacional de forma inmediata, para evitar el tráfico de drogas…
— Claudia Sheinbaum Pardo (@Claudiashein) February 3, 2025
Yet, on the same day, following the two calls, Trump stated that “nobody is out” of tariffs.
Meanwhile, Trump’s additional 10% tariffs on China came into effect. But Beijing retaliated, announcing an antitrust probe into Google. Also, it will impose tariffs of 10-15% on imports of US goods, including coal, liquefied natural gas, agricultural machinery, etc.
Julien Chaisse, a professor at the City University of Hong Kong, commented that President Xi Jinping’s “choice of a February 10 start date appears strategic. It allows time for a possible discussion between Trump and Xi which is creating space for last-minute diplomacy before the measures take effect.”
Perfect Time for Early Investing: MIND of Pepe and Solaxy Raise Millions
Now is an excellent time to buy some soon-to-be-launched coins. But not all presales are made equal.
One of the hottest presales now is Solaxy ($SOLX). The project has raised more than $18.2 million to date. Early investors can buy the coin for $0.001624, but the price will increase in less than a day. Holders can also stake their $SOLX and earn 227% APY in staking rewards.
Solaxy is the first Layer-2 specifically for the Solana blockchain, bridging this popular network and Ethereum, as well as various other networks via its multi-chain functionality. This feature enables seamless trading across blockchains.
Furthermore, by moving transactions off the Solana mainnet, Solaxy solves some of the major issues Solana has been experiencing: scalability, congestion, network downtime, transaction failures, and high.
MIND of Pepe ($MIND) merges AI with memecoins economy into a self-governing and self-evolving AI agent. The presale has raised over $5.6 million in less than a month since its launch.
The AI agent gathers and analyses data for the benefit of $MIND holders, providing them with real-time intelligence and insights. It interacts with Twitter, Telegram, and dapps, as well as influencers, in order to learn, evolve, and grow its presence. All of this helps traders improve their strategies and achieve better results.
Enter. $MIND pic.twitter.com/bim3P4Fz8N
— MIND of Pepe (@MINDofPepe) February 2, 2025
Additionally, MIND of Pepe controls its wallet and creates coins within the Telegram community so that $MIND holders can be the first to learn about novel opportunities.
Currently, early investors can grab $MIND for $0.0032532. The earlier they fill their bags, the bigger the potential profit once the coin lands on exchanges. Also, $MIND holders can stake their coins to earn 452% APY staking rewards.
