Bitcoin and Ethereum Surge Following Trump’s Tariff Rebate Proposal
Bitcoin and other major cryptocurrencies jumped as traders responded to President Trump’s $2,000 tariff dividend plan, reigniting risk appetite and recalling pandemic-era stimulus effects.
Bitcoin rose 4.6% to $106,440 and Ethereum gained 6.1% to $3,618 after U.S. President Donald Trump proposed a $2,000 “tariff dividend” funded by import duties. The announcement on Truth Social boosted market sentiment despite doubts over congressional approval. XRP led major gains with an 8.5% rise to $2.48, partly driven by Canary Capital’s latest S-1 filing for a proposed XRP ETF. Overall crypto market capitalization reached about $3.5 trillion, with unusually high $113 billion Sunday trading volume. In parallel, Zcash advanced its privacy adoption, surpassing Monero in market share and debuting the wrapped token zenZEC on Solana, achieving $15 million in trading volume since its October launch.
- Tariff dividend: A proposed government payment to citizens funded by tariff revenues, aimed at stimulating economic activity.
- XRP ETF: An exchange-traded fund designed to track the value of XRP, allowing investors to gain exposure without directly holding the cryptocurrency.
- Wrapped token: A blockchain token that represents another asset on a different chain, enabling interoperability while maintaining the original asset’s value.