MARKET CRASH 🚨🚨🚨
💥 Trump Imposes 100% Tariff on Chinese Goods – Crypto Market Shakes Strongly
☀️ Early this morning (10/11), President Donald Trump unexpectedly announced a 100% tariff on imports from China, after China took steps to restrict the export of rare earth materials – a crucial resource for AI chips, high technology, and coin mining equipment.
🔥 This news has caused the entire crypto market to tremble
• Over $19.1 billion in positions liquidated in just 24 hours (according to CoinGlass).
• About 1.6 million traders affected.
• Specifically on Hyperliquid (Perp DEX), over $10 billion in long orders were "burned."
This is considered the largest liquidation in the history of the crypto market.
🔄 Update on $SOMI
The $SOMI token of Somnia Network has also been affected by the general trend, dropping from $0.68 to $0.32 overnight, but has quickly recovered and is currently trading around $0.52.
📌 The market is in a sensitive phase, so you should maintain a strong mindset, manage risks, and closely monitor macro developments.
Show original
54.75K
3
The content on this page is provided by third parties. Unless otherwise stated, OKX is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.