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HomeNewsEthereum Hits $2.9K as Eric Trump Calls It a 'Great Time to...

Ethereum Hits $2.9K as Eric Trump Calls It a ‘Great Time to Buy’

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  • Ethereum surges to $2,900 following a tariff-driven market slump, boosted by Eric Trump’s public endorsement and a pause in U.S. trade restrictions
  • The Trump-linked World Financial Liberty platform makes $300M+ crypto moves as Ethereum’s ecosystem strengthens with institutional backing.

Ethereum recently surged past $2,900, recovering from a sharp drop earlier in the week. The rebound came after Eric Trump, son of former U.S. President Donald Trump, encouraged his 5.4 million followers on X to consider buying Ether (ETH). His comments, posted on February 3, coincided with a temporary halt on proposed tariffs by President Trump, which had initially triggered a market downturn.  

Eric Trump’s Crypto Endorsement  

Eric Trump’s post, which read, “In my opinion, it’s a great time to add $ETH. You can thank me later,” quickly caught the attention of the crypto community. Although he later edited the post to remove the last five words, the message had already made waves. His remarks came after a turbulent period for Ethereum, which had plummeted 16% in a single hour to a low of $2,368. However, the cryptocurrency quickly recovered, climbing back to $2,700 before Eric Trump’s post and eventually reaching $2,913.  

The Trump family’s involvement in the crypto space doesn’t end there. Their platform, World Financial Liberty (WFL), recently made significant moves in the market. According to blockchain analytics firm Spot On Chain, WFL transferred $307.41 million worth of assets to Coinbase’s custody platform on February 3. Additionally, WFL unstaked nearly 20,000 Lido Staked Ether (stETH) and spent $5 million in USD Coin (USDC) to purchase 1,826 Ether. These actions suggest WFL is preparing to support its upcoming “Earn and Borrow” lending protocol.  

Ethereum’s Growing Momentum  

Ethereum’s recent price recovery and Eric Trump’s endorsement highlight the cryptocurrency’s growing appeal. The Ethereum Foundation has also been making strides to strengthen its ecosystem, recently allocating 50,000 Ether to support developers and expand its treasury through staking rewards. According to Ethereum core developer Eric Conner, these rewards could cover the foundation’s internal budget and reduce selling pressure, potentially boosting Ethereum’s long-term performance.  

Meanwhile, Ethereum’s institutional appeal continues to grow. Etherealize, a marketing firm focused on pitching Ethereum to Wall Street, launched in January, signalling increased efforts to attract traditional investors. The firm aims to highlight Ethereum’s potential in decentralized finance (DeFi) and non-fungible tokens (NFTs), two sectors that have seen explosive growth in recent years.   

The recent price surge has reignited optimism among Ethereum investors, many of whom are eyeing the cryptocurrency’s all-time high of around $4,800. Analysts attribute the rally to a combination of factors, including institutional interest, the growing adoption of DeFi projects, and the broader bullish sentiment in the crypto market. 

With influential figures like Eric Trump weighing in, the conversation around crypto investments is only getting louder. Today, the ETH price is $2,711.95 with a trading volume of $57.1B. The current circulating supply of ETH is 120.52M ETH and the total supply is 120.52M ETH. 

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