Ethereum experienced a rapid price surge, jumping from around $2,300 to over $2,900 in under 24 hours, marking a dramatic recovery from a steep decline.
The rebound came after a sharp drop in Ethereum’s price following the post-tariff crypto market bloodbath on February 3, which saw Ether fall to as low as $2,300. The surge was triggered by Eric Trump’s recent bullish endorsement of Ethereum on X, further boosting market sentiment. Although Ethereum had already begun to recover to around $2,700 after U.S. President Donald Trump announced a temporary suspension of proposed tariffs on Canada and Mexico, Eric Trump’s endorsement acted as a catalyst, driving the latter part of the rally.
To provide some context, the Trump family has a vested interest in Ethereum through World Liberty Financial, a DeFi project backed by President Donald Trump. The rally in Ether’s price follows a surprising move by World Liberty Financial to liquidate most of its crypto treasury. On February 3, the project shed more than 90% of its $363 million holdings, including major positions in Ethereum, WBTC, AAVE, ENA, and LINK. These assets were moved to Coinbase Prime and other exchange wallets, with some routed through intermediary addresses, according to The Block. Interestingly, the project has also been receiving small Ethereum deposits from newly created or dormant wallets.
As of now, Ethereum (ETH) is trading around $2,720, having hit an intraday high of $2,900 and a low of about $2,500.
