Eric Trump’s Ethereum Endorsement Fuels Crypto Buzz As ETH Nears $3K
After momentarily sliding below important support levels, Ethereum (ETH) is once again on the climb. After a significant change in market mood, the second-largest digital asset by market capitalization passed $2,900. Int...
Archive context
Older archive item. Useful for background and entity history, but not a fresh market-moving signal.
After momentarily sliding below important support levels, Ethereum (ETH) is once again on the climb. After a significant change in market mood, the second-largest digital asset by market capitalization passed $2,900.
Interestingly, Eric Trump, the son of US President Donald Trump, weighed in on the situation, remarking that it is a strategic opportunity to acquire ETH.
Tariff Pause Sparks Market ReboundConcerns over possible tariffs on Canada and Mexico rattled the crypto market earlier this week. Both Bitcoin and Ethereum fell significantly; Ethereum dropped momentarily to around $2,360. Still, the temporary suspension of the tariffs by Trump offered a breather, which raised investor confidence in risk assets including cryptocurrency.
In the wake of the announcement, Ethereum experienced a robust recovery, with a nearly 20% increase. Traders interpreted this as an invitation to re-enter the market, and ETH promptly reclaimed the $2,900 mark.
In my opinion, it’s a great time to add $ETH.
— Eric Trump (@EricTrump) February 3, 2025
Eric Trump’s Crypto Endorsement Raises EyebrowsEric Trump posted his optimistic view on Ethereum on social media. He first said, “In my opinion, it’s a great time to add $ETH. You can thank me later.” Although the subsequent section of his remarks was deleted, crypto investors saw resonance in his endorsement of Ethereum’s future development.
The Trump family has been progressively involved in the digital asset sector, particularly through their World Liberty Financial platform. This most recent statement serves to emphasize their involvement and potential long-term dedication to blockchain technology.
World Liberty Financial’s Significant Ethereum TransactionWorld Liberty Financial recently made a substantial move in the crypto space, which has served to further fuel speculation. The firm transferred over $300 million in assets to Coinbase’s custody platform, according to blockchain analytics firm Spot On Chain. Furthermore, they acquired an additional 1,826 ETH for approximately $5 million and converted nearly 20,000 Lido Staked Ether (stETH) into ETH.
World Liberty Financial (@worldlibertyfi) moved $307.41M in 8 assets to #CoinbasePrime 6 hours ago—as part of treasury management and business operations.
Shortly after, the project unstaked 19,423 $stETH to $ETH and further spent 5M $USDC to buy 1,826 $ETH at $2,738.… https://t.co/Rp9NAFUs5N pic.twitter.com/5bfIvJma7U
— Spot On Chain (@spotonchain) February 4, 2025
These transactions indicate that the company is making preparations for the introduction of its “Earn and Borrow” lending protocol. Although the protocol is still in the process of being developed, the substantial transfers suggest that the platform could soon play a significant role in decentralized finance (DeFi).
Ethereum’s Prospects Still Remain PositiveAs institutional interest is rising and the price of the top altcoin has recaptured higher levels, Ether remains a central focus in the crypto market. Macroeconomic changes, strategic investments, and political influence taken together provide an interesting dynamic for ETH’s future course.
Featured image from Gemini Imagen, chart from TradingView
Why this matters
This ethereum story adds another data point to the current market tape and is useful when read alongside nearby source coverage.
Original source
Read on NewsBTCRelated market context
Groundwork Collaborative oversight blueprint names Coinbase CEO and World Liberty Financial
Increased scrutiny on crypto firms linked to Trump could lead to regulatory shifts, impacting market stability and investor confid...
Trump Taps Four SEC and CFTC Nominees in Major U.S. Crypto Regulation Reset Bid
Key Takeaways: President Trump has appointed four people to three vacant positions at the SEC and CFTC. Among the picks are former...
Donald Trump Jr. Leaves Kalshi, Keeps Polymarket Role a Week After Democrats Win Congress
Donald Trump Jr. no longer advises Kalshi. The prediction market and the president’s eldest son mutually agreed to end the arrange...
Kalshi Ends Trump Jr. Advisory Role After 1789 Capital Invests in Rival Polymarket
Key Takeaways: Kalshi terminated its partnership with Donald Trump Jr.’s firm after it made a bet on their competitor, Polymarket....
Ethereum Dancing on Two Fronts as Quantum Upgrade Advances and Treasury Leverage Bites
Ethereum developers want to upgrade the network to be quantum-ready by 2027, potentially accelerating one of its biggest security...
Trump Nominates Ex-CFTC Commissioner Kristin Johnson and Three Others to SEC, CFTC
President Donald Trump sent four nominations to the Senate on Nov. 12 for the Securities and Exchange Commission (SEC) and the Com...