PANews reported on May 31 that according to CoinDesk, the cryptocurrency market suffered a sharp drop this weekend, with Dogecoin falling more than 8%, PEPE falling 12%, and Bitcoin falling more than 2%, trading at just over $103,600. ETH fell nearly 4%, while Ripple (XRP), BNB Chain (BNB), ADA and SOL all fell 2-5%. Analysts believe that the recession is related to the renewed escalation of trade tensions, and market volatility is expected to continue.