As concerns around President Donald Trump’s tariff plans weighed on cryptocurrencies this week, ether experienced a sharper selloff than bitcoin — extending its underperformance despite some traders’ hope that it could make a turnaround this year.

Crypto markets saw $2.24 billion in liquidations after Trump’s tariff announcement. ETH took the hardest hit, losing over $609.9 million.

Cryptocurrencies tumbled on Sunday in a risk-off move after President Donald Trump hit Canada, Mexico and China with long-threatened import tariffs.

As concerns around President Donald Trump’s tariff plans weighed on cryptocurrencies this week, ether experienced a sharper selloff than bitcoin, extending its underperformance, despite some traders’ hope that it could make a turnaround.

World Liberty Financial, the decentralized-finance project linked to Donald Trump’s family, appears to have added tens of million of dollars worth of the Ether cryptocurrency after crypto markets crashed during the weekend as the US president briefly imposed tariffs on Mexico and Canada.

Despite Bitcoin topping $100,000 this week, the world’s largest cryptocurrency has slipped below that critical threshold again, and is currently trading at a price near $97,200. “This isn’t the first time we’ve seen such volatility,

After President Donald Trump announced, on Saturday, February 1, tariffs of 25 percent on all goods entering the United States from Canada and Mexico, stock futures plummeted. Trump subsequently agreed to delay those tariffs by 30 days.