The looming uncertainty around Donald Trump’s trade war has created chaos in the crypto market, resulting in investors opting to sell their altcoins. However, the crypto market has witnessed significant recovery since Trump put a pause on smartphone and electronics tariffs. However, his recent announcement of “no country is getting off the hook” is re-introducing concerns among investors.
Trump to Re-introduces Tariff on Smartphones & Electronics, Time to sell Altcoins?
With the ongoing US-China trade war, Bitcoin and altcoins faced a significant downtrend as investors opted to sell them. Even before these assets could regain support, Donald Trump’s Truth post brought uncertainty.
Recently, he emphasized that the exemption of smartphones & electronics from tariffs is short-lived.
There was no Tariff exception; they are just moving to a different Tariff ‘bucket.
Commerce Secretary Howard Lutnick revealed that electronics are only exempted from the reciprocal tariff but are included in the semiconductor tariff. He further claimed that the semiconductor tariff would be coming soon, probably in a month or two.
Additionally, Trump has announced a national security tariff investigation in the semiconductor and electronics supply chain.
We will not be held hostage by other Countries, especially hostile trading Nations like China.
As the US has raised tariffs on Chinese goods to 145% and the Chinese government has retaliated with 125%, the new addition of tariffs could bring further volatility. Not only the struggling but also the performing cryptos could struggle. As a result, investors must consider the poor performing and volatility-filled crypto to sell.
Top 3 Altcoins to Sell Now
Although Trump’s tariff affects crypto prices, a few digital assets could face additional downtrends due to massive token unlocks, creating the need to sell them. According to Tokenomist, more than a billion tokens will be unlocked in the upcoming days, affecting the crypto’s price.
This includes Donald Trump’s Official Trump (TRUMP) coin. This once-trending meme coin is already struggling on the charts, and the upcoming $321.6M worth of tokens that will be unlocked on April 18 could crash its price further due to high volatility.
Arbitrum (ARB) and Starkent (STRK) are the two other altcoins to sell due to their $16.40M and $27.20M token unlocks. Notably, these cryptos were impacted by market volatility and are under a significant downtrend. The unlocks would add liquidity, decreasing demand and crashing prices.
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