The cryptocurrency market experienced a steep decline following US President Trump’s announcement of new tariffs on Chinese goods. Top 100 altcoins saw widespread losses, with many plummeting by over 40% within the last hour. Filecoin (FIL) took the lead in this slide, losing 56.86%, followed closely by Worldcoin (WLD), Artificial Superintelligence Alliance (FET), and Render (RNDR). Other notable drops were seen among memecoins, DeFi projects, and established tokens like Bonk (BONK), Story Protocol (IP), Lido DAO (LDO), Kaspa (KAS), Curve DAO Token (CRV), and Optimism (OP). The news also cited notable losses in Ethereum Name Service (ENS), Arbitrum (ARB), Internet Computer (ICP), Sei (SEI), Pyth Network (PYTH), VeChain (VET), Uniswap (UNI), Ondo (ONDO), Polkadot (DOT), and Immutable (IMX), all of which experienced declines around 40% within the last hour. This event follows a related surge in volatility triggered by previous market shifts.