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crypto.news 2025-02-04 08:11:38

Eric Trump’s endorsement fuels Ethereum’s surge to $2900, wiping out post-tariff losses

Eric Trump’s endorsement fuels Ethereum’s surge to $2900, wiping out post-tariff losses

Ethereum saw a dramatic price surge, skyrocketing from around $2,300 to over $2,900 in less than 24 hours. The rapid Ethereum ( ETH ) recovery followed a post-tariff crypto market bloodbath on Feb. 3, which saw Ether plummet to a low of approximately $2,300, and was fueled by Eric Trump’s bullish endorsement of Ethereum in his recent post on X. That being said, Ethereum had already started rebounding to around $2,700 after U.S. President Donald Trump announced a temporary halt on proposed trade tariffs on Canada and Mexico. Eric Trump’s post was a just catalyst, fueling the second half of the rally. In my opinion, it’s a great time to add $ETH . — Eric Trump (@EricTrump) February 3, 2025 Read more: Tariffs ease, sparking crypto market rebound—Bitcoin and Ethereum regain lost ground To put this development into broader context, the Trump family has a vested interest in Ethereum through World Liberty Financial, a new DeFi project backed by President Donald Trump. The Ethereum’s sharp rebound follows the World Liberty Financial ’s sudden and near-total liquidation of its crypto treasury—shedding over 90% of its $363 million holdings, including significant positions in ETH, WBTC, AAVE, ENA, and LINK on Feb. 3. The team moved most of its assets to Coinbase Prime and other exchange wallets, often routing through intermediary addresses, as reported by The Block . Meanwhile, the project has been receiving small ETH deposits from newly created or inactive wallets. As of now, Ethereum (ETH) is trading at $2,720, with an intraday high of around $2,900 and a low of approximately $2,500. You might also like: Trump’s tariffs spark a crypto crash — and experts say it’s exactly what the market needed

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