Ethereum leaps after Eric Trump tweeting endorsement
Ethereum prices soaredthis week after President Donald Trump’s son Eric tweeted a surprise endorsement of the crypto coin on Tuesday (February 4).
The businessman, who is the third child of the president, has posted about his support of the cryptocurrency industry previously but it was this week that he called out Ethereum specifically.
“In my opinion, it’s a great time to add $ETH,” he said in a post on the X social media platform.
This comes after the coin experienced a sharp fall as it started to decrease before February 3 which marked one of its biggest drops in recent history.
Soon after the drop, however, the asset rebounded and managed to recoup and grow by over 25%. This took it from roughly $2,300 to over $2,900 in less than one day. It has since stabilized and is trading around $2,735 as of Friday 7 February.
In my opinion, it’s a great time to add $ETH.
— Eric Trump (@EricTrump) February 3, 2025
Crypto industry future in the US is backed by support from TrumpIn mid-January, when Eric Trump tweeted another thought about the industry: “In my opinion, there has never been a better time to invest in the United States.
“Bet on our markets, on energy, on technology, and on crypto – bet on the greatest nation on earth – a nation that has been freed from its constraints and shackles and now has limitless potential!
“No question Biden left a mess – but that mess will be corrected and the next four years are going to be spectacular. Transformational wealth will be created and I hope everybody enjoys the ride.”
While the president has also shown support to the crypto space and has hired the first-ever crypto czar into the White House, it’s not yet known what the future holds.
It was reported that some of the first steps were taken on Tuesday by venture capitalist David Sacks, along with Republican lawmakers, to start laying the groundwork for plans toward a regulatory framework for crypto.
Sacks, who is newly appointed White House AI and crypto czar, told CNBC that getting legislation through Congress is “something we could do in the next six months.”
Featured Image: AI-generated via Ideogram
The post Ethereum leaps after Eric Trump tweeting endorsement appeared first on ReadWrite.