Today’s Crypto Market: BTC at $89K, Trump Trade War Effect, NEIRO, FINVESTA Lead Top Gainers

Today, the broader cryptocurrency market is in consolidation territory with slight rebounds following recent impressive gains. Over the past 24 hours, the crypto’s market capitalization rose by 6.47% to $2.95 trillion. The transaction volume decreased by 15.34% to $149.96 billion.

The fear and greed index decreased to 20, showing extreme fear among traders and investors. This decline suggests increased fear in the market triggered by macroeconomic uncertainty and recent price fluctuations across prominent tokens like BTC, ETH, etc.

📈Market Overview

Market is rebounding after the turbulence triggered by Trump. Among the gainers today: $AAVE, $BCH, $ADA, and $JTO.@Aevoxyz launched a pre-market for the Elixir token, while @Bybit_Official announced the $ELX listing but deleted the tweet later.

Market… pic.twitter.com/0tI4dOQ3y9

— CryptoRank.io (@CryptoRank_io) March 5, 2025

Trade war fears

On Sunday, prices of most cryptocurrencies rose sharply after the US President Trump announced plans to establish a crypto strategic reserve. The announcement triggered the recovery of most assets on Monday, with BTC’s price surging from a low of $82,876 to a high of $87,688.

However, the rises were short-lived as doubts over the regulatory approval and implementation of the crypto stockpile contributed to drastic corrections today.

Another key factor contributing to current consolidations in crypto prices is Trump’s tariffs. Trump introduced 25% tariffs on goods imported from Canada and Mexico and doubled taxes on imports from China to 20%.

How are assets fairing today?

Over the past 24 hours, most cryptocurrencies recorded green, but are facing correction. Today, BTC’s price rose by 7.02% to currently standing at $89,940. Likewise, Ether is also up 5.75%, trading at $2,225. XRP, BNB, and Solana surged their values by 9.45%, 5.35%, and 7.34% respectively.

Top news

First, Celo announced plans to transition its blockchain into an Ethereum Layer 2 network. Celo said it will become an Ethereum L2 mainnet on March 26, 2025, after a successful Baklava upgrade.

Elsewhere, Binance launched GoPlus Security (GPS) cryptocurrency on its HODler airdrop platform to reward BNB holders with the token’s airdrops based on the historical records of their BNB balances.

Lastly, Aave issued a new proposal seeking to initiate key upgrades to its protocol’s tokenomics. The plan aims to make changes in risk management, revenue distribution, and buyback mechanism. If the community endorses this proposal, the protocol would modify its revenue distribution, update tokenomics, and revamp resource allocation.

Top gainers

Today Neiro on Ethereum’s (NEIRO) emerged as the best performer in the crypto market, with a price rise of 41.3% over the past 24 hours. It was followed by Finvesta (FINVESTA), which registered a price surge of 37.3% over the period.

The next are Book of Ethereum (BOOE) and Kekius Maximus (KEKIUS), which registered a price uptick of 32.6% and 32.2% respectively. Lastly, Based Pepe (PEPE) grabbed the spotlight with its price increase of 31.7%.

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