The crypto market showed positive signs after U.S. President Donald Trump decided to suspend tariffs on Canada and Mexico, which eased investor concerns. Eric Trump posted on X that February 3rd marked a perfect time for people to invest in ETH. The phrase “You can thank me later” was deleted from his post by him.
The crypto market experienced a major price drop during Feb. 2 and 3 following Trump’s proposed tariff plan. The price of Ethereum dropped 16% within one hour until it reached its lowest point at $2,368.
Eric Trump’s post occurred after the cryptocurrency market had already rebounded to $2,700 because his father decided to postpone the implementation of tariffs. ETH reached its peak price point at $2,913 before stabilizing at $2,806.
The Trump family’s financial entity, “World Liberty Financial (WLF),” initiated major cryptocurrency transactions. The firm moved “307.41 million dollars” worth of assets to Coinbase’s custody service while converting “20,000 Lido Staked Ether (stETH)” into ETH.
Blockchain analytics firm Spot On Chain revealed that WLF purchased “1,826 ETH at $2,738” using “$5 million USDC.” The financial resources will enable WLF to launch its forthcoming “Earn and Borrow” lending protocol.
Ethereum’s ecosystem is also evolving. The “Ethereum Foundation” dedicated “50,000 ETH” to enhance its treasury by earning rewards from staking activities. Ethereum core developer Eric Conner predicts the rewards system will fund most of the foundation’s budget while minimizing ETH market supply.
A new marketing organization named “Etherealize” started its operations on Jan. 22 to market Ethereum to Wall Street investors. Institutional recognition indicates positive long-term potential for ETH.
Also Read: ETH Price Must Hold $2,700 to Keep Bullish Move Intact: Analyst
