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. 

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.

Related Posts

UAE real estate embraces stablecoins as Tether, Reelly Tech educate agents

Tether and Reelly Tech are teaming up to integrate USDT into real estate transactions in the UAE. The partnership aims to improve efficiency in real estate deals while educating agents…

Tokenized funds go on-chain as Sui, Libre Capital expand blockchain finance

Sui users could soon benefit from expanded access to tokenized funds through a new partnership between the blockchain platform and Libre Capital. The initiative will leverage the Sui (SUI) blockchain…

Leave a Reply

Your email address will not be published. Required fields are marked *