Cryptocurrency Market Tariff War Impact Fades... Market Cap Rebounds to $3 Trillion

# Global Cryptocurrency Market Cap Surges Past $3 Trillion On November 1st, Cryptopolitan reported a significant milestone for the global cryptocurrency market, as its market capitalization surpassed $3 trillion, a first in nearly two months. Data from CoinGecko shows that the market reversed its recent downtrend, which originally stemmed from a sell-off triggered by U.S. President Donald Trump's trade policies. Bitcoin (BTC) also broke the $95,000 barrier (KRW 136,562,500) for the first time in two months. The earlier market decline was mainly due to companies accelerating imports of goods like automobiles, steel, and aluminum ahead of proposed tariffs. Currently, the global cryptocurrency market cap stands at $3.13 trillion, reflecting a 1.7% increase in the past 24 hours. Additionally, crypto analytics platform CryptoQuant reported an 18% drop in net outflows from exchanges, indicating reduced selling pressure among investors. Bitcoin continued its recovery, climbing 3.75% over the past week. Its current price is $96,641, a 3% increase in the last 24 hours. Inflows of $3.06 billion into U.S. Bitcoin spot exchange-traded funds (ETFs) have significantly driven this rally. Furthermore, President Trump's announcement of a partial easing in the U.S.-China trade war added further upward momentum. # Solana Stablecoin Market Cap Reaches Record High On-chain data reveals that the market capitalization of stablecoins on the Solana (SOL) network hit an all-time high of $13.11 billion, increasing by $400 million over the week. The TRUMP token surged 60% following the announcement of an exclusive dinner event for major holders. Meanwhile, Fartcoin also reclaimed a $1 billion market capitalization, further signaling renewed bullish sentiment in the cryptocurrency market. The broader market rally continues, highlighted by Cantor Fitzgerald's newly appointed chairman, Brandon Rutnik, announcing plans for Cantor Equity Partners' collaboration with SoftBank, Tether, and Bitfinex. This strategic initiative aims to create a $3 billion Bitcoin-focused fund named 21 Capital. # DeFi Grows as Total Value Locked Surges In the decentralized finance (DeFi) sector, Unichain launched a $21 million liquidity campaign on April 15, boosting the total value locked (TVL) in the DeFi ecosystem by 45% to $464 million. Hyperliquid also reported significant growth, with its TVL exceeding $700 million—a nearly 100-fold increase since its market debut. # Cryptocurrency Resilience Amid U.S. GDP Contraction Cryptocurrencies rebounded amid rising concerns over a U.S. economic slowdown, following a contraction in first-quarter GDP. President Trump blamed former President Joe Biden for the downturn, stating, "This is Biden's stock market, not mine." Joseph Foudy, a professor at NYU Stern School of Business, remarked, “Although President Trump aimed to project strength this week, the numbers revealed economic fragility, showing that the U.S. economy is reacting poorly to these external shocks.” In contrast, China's economy grew at an annualized rate of 5.4% during the same period, surpassing expectations. Cryptocurrency analytics firm FXLeaders noted that the acceleration of imports by U.S. businesses ahead of Trump’s tariff policies targeting approximately 90 countries has contributed to the weak economic performance. Amid these developments, the U.S. Dollar Index rose 0.4% last week to reach 99.65, recovering from a three-year low below the 98 level. Equities markets also joined the rally, with the Dow Jones Industrial Average increasing by 2.5%, the S&P 500 surging by 4.6%, and the Nasdaq Composite climbing by 6.7%.