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Last night, the crypto market experienced intense volatility. Ethereum saw a sharp correction in the afternoon, with the $3200 level instantly becoming the focal point of the bulls and bears' confrontation. Every price fluctuation was amplifying the market's tense atmosphere. However, the turmoil on the surface is not the biggest hidden danger. The real risk comes from the "policy bomb" hanging overhead — the significant decision by relevant US authorities on tariff policies this Friday. Market analysts point out that this could very well be the trigger that breaks the current pattern.
There are lessons from history. Changes in tariff policies have previously triggered a 6% plunge in Ethereum, with $262 million worth of long contracts liquidated within 24 hours, causing a chain reaction that swept through the entire market. The severity of that incident still leaves many traders with vivid memories.
The impact of this turmoil has already permeated the entire ecosystem. DeFi protocol trading volume plummeted by 20% in half a day. Liquidity mining pools have gone from bustling to quiet. Users are hurriedly adjusting their positions, as if trying to avoid something. Most assets are experiencing significant fluctuations following Ethereum, and the market is filled with a sense of panic.
However, some interesting phenomena have also emerged amid this turbulence. Certain projects within the ecosystem have demonstrated noticeable stability, with prices remaining relatively unchanged and liquidity maintained normally, becoming relatively reassuring choices for users during volatile times. This resilience in the current market environment is particularly prominent — when most assets are experiencing intense fluctuations, maintaining stable operation itself is a form of competitiveness.