Cryptocurrency prices were significantly impacted by U.S. government tariff policies in April. Following the introduction of new tariffs on April 2, BTC and ETH experienced sharp declines of over 10% within a short period, leading to substantial liquidations of long positions in the derivatives market and significant outflows from spot ETFs. However, as tariff policies became more moderate and the U.S. government engaged in negotiations with multiple countries, market confidence gradually recovered. Despite the pronounced impact of U.S. tariff policies on cryptocurrency prices, the fundamentals of major blockchain projects remained largely unaffected. Both before and after the tariff announcement, Solana and Ethereum maintained robust transaction volumes, with Solana processing over 90 million transactions and Ethereum exceeding 1 million.