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The Coin Rise 2025-02-04 09:35:37

Tariff Pause Sparks Ethereum Recovery as Eric Trump Urges Buyers to “Thank Him Later”

Tariff Pause Sparks Ethereum Recovery as Eric Trump Urges Buyers to “Thank Him Later”

Ethereum (ETH), which had suffered a dramatic 16% plunge to $2,368 amid tariff-related fears, surged back to above $2,900 earlier on Tuesday. This coincided with the broader crypto market rebound after US President Donald Trump temporarily halted tariff threats on Canada and Mexico. Ether price recovery gained additional momentum when Eric Trump, the President’s son, tweeted to his 5.4 million followers: “It’s a great time to add $ETH. You can thank me later.” Although the controversial ending was later removed from his post, the statement added fuel to the crypto rally. ETH prices rose to $2,913 before settling at $2,700 at the time of writing. This rebound follows market stabilization after President Trump’s tariff negotiations strategy de-escalated tensions. World Liberty Financial’s Bold Moves Adding to the market buzz, the Trump family-backed World Liberty Financial (WLF) made a high-profile crypto transfer on February 3. Blockchain analytics firm Spot On Chain revealed that WLF moved $307.41 million worth of assets to Coinbase’s custody platform. Further moves by WLF included unstaking nearly 20,000 Lido Staked Ether (STETH) and converting it to Ether. The platform also purchased an additional 1,826 Ether for $5 million at an average price of $2,738. Analysts speculate that these funds might support WLF’s developing “Earn and Borrow” protocol, a lending service yet to launch fully. Ethereum Foundation’s Treasury Boost Meanwhile, the Ethereum Foundation recently allocated 50,000 Ether to bolster its treasury via staking rewards. According to core developer Eric Conner, staking rewards could sustain the foundation’s budget and alleviate selling pressure on the token, a key factor in previous market downturns. Additionally, Etherealize, a new institution-focused Ethereum marketing firm, launched on January 22. Its mission is to promote Ethereum’s strengths to Wall Street investors, potentially driving greater adoption and investment in the ecosystem. As ETH remains near $2,800, market participants are cautiously optimistic but wary of potential volatility. While Eric Trump’s remarks created waves of enthusiasm, ongoing negotiations and regulatory developments may continue influencing price movements. The post Tariff Pause Sparks Ethereum Recovery as Eric Trump Urges Buyers to “Thank Him Later” appeared first on TheCoinrise.com .

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