Donald Trump’s tariff suspension is successfully helping the market breathe again, with US crypto stocks showing signs of recovery.
US Crypto Stocks Surge!
In response to the tariff relief, pre-market trading saw a general increase in US cryptocurrency-related stocks, with Strategy and Coinbase up by 2.29% and 2.34% respectively. MARA Holdings rose by 1.52%, and Riot Platforms is also up 1.84%.
The global crypto market cap currently stands at $2.68 trillion, a 0.20% decrease over the last day. The dip could be attributed to recent events, including Mantra’s $OM crypto crash. However, note that, Bitcoin is currently trading at $84,773, and its dominance has gained by 0.14%, and is now at 62.62%.
Overall, the total crypto market volume over the last 24 hours is $84.11 billion, which marks a 10.85% spike. Among this figure, DeFi accounts for $8.24 billion (9.79%), while stablecoins constitute $77.75 billion (92.43%).
Beyond the crypto space, the tech sector has also seen a market rebound. U.S. tech stocks surged in pre-market trading, with Apple (AAPL.O) up 6%, Nvidia (NVDA.O) and Alibaba (BABA.N) up over 3%, and Tesla (TSLA.O) up 2.3%.
Tech Stocks Jump Too!
In Europe, tech stocks rose Monday as the US conceded to exempt electronic products from counter-tariffs. The UK’s FTSE 100 Index rose 2%, while Germany’s DAX, France’s CAC 40, Italy’s FTSE MIB, and the Euro Stoxx 50 all gained about 2.4%.
Among European semiconductor companies, ASM International, Infineon, and ASML which are popular in the US market, by about 2%. Apple’s stock in Frankfurt jumped over 6%, while Nvidia and Dell Technologies also posted gains of over 3% and 6.3% respectively.
The European tech stock index climbed 2.8%, with Logitech up around 5%, and SAP and Dassault Systèmes both up 2%. In early European trading hours, Nasdaq index futures rose by 1.6%.
Also Read: China’s FTX Creditors Concerned Over Repayment Amid Tariff Trade War
