Binance Market Watch: Altcoin Liquidity Declines Following Trump’s Tariff Announcement

Kaiko Research has reported a notable drop in altcoin liquidity following former President Trump’s recent tariff announcement. The market reaction highlights investor caution as geopolitical tensions escalate between the U.S. and China.

Altcoin Liquidity Drops After Trump’s Tariff Announcement

Kaiko Research reported that altcoin liquidity has dropped since President Trump’s tariff announcement. The top ten altcoins and ETH experienced a decrease in liquidity by 12% and 8%, respectively, indicating a more cautious stance among investors. This trend is likely due to investors taking risk off the table in response to the tariffs and moving away from altcoins. The market is currently uncertain, with China promising to fight the US on the tariff front, potentially leading to further volatility.

Nigeria Extends Binance Tax Case

A Nigerian court has postponed Binance’s $2 billion tax evasion case to April 30. The crypto exchange contests the legality of document service. Nigeria claims Binance’s P2P trading harmed the economy and facilitated capital flight, demanding $2 billion in taxes and $79.5 billion in damages. Two Binance executives were detained, with allegations of a rejected $150 million bribe involved. The postponement is due to a Binance lawsuit regarding a prior court ruling allowing the Federal Inland Revenue Service (FIRS) to serve court documents through email.