Ethereum Rebounds Above $2.9K After Eric Trump Suggests It’s a Good Time to Buy

Ethereum surged above $2,900 following comments from Eric Trump, who told his 5.4 million followers on X (formerly Twitter) that it was a great time to add ETH to their portfolios. This price movement came after US President Donald Trump announced a temporary pause on tariffs against Canada and Mexico, which had caused market instability. Eric Trump’s suggestion came after a significant drop in the crypto market, including Ether's plummeting price, which hit a local low of $2,368 within a single hour.

In his post, Eric Trump wrote, “In my opinion, it’s a great time to add $ETH. You can thank me later.” However, he later edited the message to remove the final remark. His comment on February 3 helped Ether climb back to $2,900 from a lower price point. At the time of his post, Ethereum was sitting around $2,700, having already started recovering from the earlier downturn. Following the Trump family’s World Financial Liberty platform’s decision to transfer over $307 million in assets to Coinbase, Ethereum’s price continued to rise, reaching $2,913 before dropping back down to $2,806.

World Liberty Financial Makes Crypto Moves

Meanwhile, World Financial Liberty (WFL) took significant actions in the crypto market, moving large amounts of assets, including unstaking nearly 20,000 Lido Staked Ether (STETH) and spending $5 million to purchase 1,826 ETH at $2,738 per coin. These moves come as WFL plans to launch its “Earn and Borrow” lending protocol, which is still under development.

Ethereum’s ongoing development efforts, including the Ethereum Foundation’s decision to allocate 50,000 ETH for staking rewards, are seen as efforts to strengthen its position in the decentralized finance ecosystem. These rewards could provide significant support to the foundation's budget, reducing selling pressure that has impacted Ethereum’s price. At the same time, institutional marketing firm Etherealize is working to pitch Ethereum’s bullish case to Wall Street investors, further positioning ETH for potential growth.

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