Ethereum (ETH), the crypto currency of America’s powerful family, is currently being used. Eric Trump-the son of US president Donald Trump-took to X.com and stated, “In my opinion, it’s a great time to add $ETH.“
It’s my opinion that now is the perfect time to invest. $ETH.
— Eric Trump (@EricTrump) February 3, 2025
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LookOnChain’s cryptocurrency analysis reported today that Trump World Liberty Financial, which is Trump’s World Liberty Financial, bought 1826 ETH worth $5 Million.
Trump’s World Liberty@worldlibertyfiPurchased another 1,826 $ETH($5M) today.
World Liberty purchased 61114 $ETH(205M), at a price average of 3,354, with an overall loss of 31M$!
World Liberty has also moved 86 296 dollars today. $ETH($235M), 647 $WBTC($65.5M), 256,315… pic.twitter.com/Oerqt5TaoX
— Lookonchain (@lookonchain) February 4, 2025
Why is Ethereum on the rise because of Trump’s purchases?
ETH has risen 7.3% on the daily charts. Even though the asset rallies, it is still down on weekly charts by 15.7%, 14-day charts by 15.9%, and the monthly charts 25.5%. ETH’s momentum has been slow to build over the past few months. Bitcoin (BTC), after the approval of an ETF, reached a record high. ETH failed to reach the same level.
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Ethereum (ETH)’s latest rally may be due to Bitcoin’s (BTC), which briefly returned to the $100,000 mark. BTC fell to the $99,000 level since then. It is believed that President Trump’s announcement of a 30-day tariff pause has contributed to this resurgence.
How long will the asset continue to rise?
CoinCOdex says that Ethereum will reach $3402 in 2025. Platform predicts that the asset will face a small correction before launching into a major rally in March. CoinCodex forecasts ETH to reach a record high $5660.91 in May 2025. To reach $5660.91 at current prices will require a rise of approximately 108.14%.
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Ethereum (ETH), could also drop in March. Trump could reinstate tariffs within 30 days. Another correction could occur on the cryptocurrency market. In this scenario, ETH might not reach a new record high. We will have to wait and see how the asset performs over the next couple of weeks.
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Source: watcher.guru
