Ethereum (ETH) and Solana (SOL) had an impressive rebound on Monday night after President Donald Trump decided to temporarily suspend tariffs on Canada, following a similar move with Mexico. This news helped alleviate concerns about escalating trade wars in North America.
Ethereum surges after a sharp drop
After hitting a low of $2,135 during the Asian trading session – the sharpest drop since May 2021 – Ethereum quickly recovered to $2,881. Earlier, the 18% crash on Monday led to over $600 million in Ethereum futures positions being liquidated.