Eric Trump just gave Ethereum a little push upwards, and prices jumped about 11% to hit around $2,900 during early trading in Asia on February 4.
But it’s still trailing behind its crypto buddies in the market recovery department.
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Crypto crash
Ethereum took a nosedive earlier this week, plummeting to $2,260 after President Trump slapped some trade tariffs on Canada, Mexico, and China, but thankfully, some of those tariffs have been put on hold, giving the entire crypto market a chance to breathe again.
Eric Trump chimed in on X, saying it’s a great time to add ETH. His comment didn’t exactly win hearts btw, many people responded with mockery or skepticism.
“Trump nuked ETH and then his son saves it. What timeline are we even in right now?”
Flippening?
But here’s the kicker, despite this little boost, Ethereum is still struggling to reclaim the $3,000 level. Bitcoin is strutting its stuff, having briefly touched $102,600 briefly.
This means the ETH/BTC ratio is looking pretty sad at 0.028, marking its weakest point since December 2020.
Over the past two and a half years, Ethereum has been losing ground in the BTC arena as market sentiment remains less than stellar.
Analyst ‘IncomeSharks’ reassured everyone not to panic if we see some red candles in the daily charts, emphasizing that the bulls made an impressive comeback.
Recovery
Adding to the drama, the Trump family is stepping into DeFi with their project World Liberty Finance built on Ethereum.
They’ve been busy accumulating ETH, snagging another 1,826 ETH worth about $5 million, so in total, they’ve bought around 61,114 ETH for $205 million, though they’re sitting on a loss of about $31 million.
While Ethereum is still catching its breath, many altcoins are bouncing back faster. XRP has surged over 20%, and DOGE isn’t far behind with a 22% jump.
ADA is also showing off with a 27% rise, while other players like LINK, AVAX, XLM, and SUI are all outperforming Ethereum right now.
Have you read it yet? Memecoin market takes a nosedive with 46% plunge
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