Oh, what a day for the crypto world! Ethereum has soared past the $2.9K mark, much to the delight of enthusiasts and the amusement of skeptics. This comes hot on the heels of President Donald Trump’s decision to call a truce on tariffs against our northern and southern neighbors, Canada and Mexico. But wait, there’s more!
The real gem in this saga is none other than Eric Trump, the younger scion of the Trump dynasty, who took to his X account to impart his sage advice to his 5.4 million followers. “It’s a great time to add ETH,” he proclaimed, like a modern-day financial prophet. Alas, he later edited out the last five words of his post, leaving us to wonder if even he had second thoughts about his bold prediction. 🤔
Eric’s timely advice followed a tumultuous period for the crypto market, with prices bleeding out thanks to his father’s tariff threats. Ether, the native token of the Ethereum network, took a particularly hard hit, plunging 16% in a single hour to a low of $2,368. But fear not, dear investors, for the coin bounced back swiftly, reaching a high of $2,913 before settling at $2,806.
And speaking of the Trump clan, their involvement in the crypto space doesn’t end with Eric’s musings. World Liberty Financial, a crypto platform linked to the family, made waves by transferring a whopping $307.41 million in assets to Coinbase’s custody platform. They also unstaked a significant amount of Lido Staked Ether (stETH), converting it back to Ether, and spent $5 million in USD Coin (USDC) to acquire more Ether. Could this be a strategic move to bolster their “Earn and Borrow” lending protocol? Only time will tell. 🕰️
As if that wasn’t enough excitement, the Ethereum Foundation recently revealed plans to support developers in the decentralized finance ecosystem, setting aside 50,000 Ether for potential expansion through staking rewards. This move could ease selling pressure and contribute to a healthier price performance for Ethereum during this bull cycle.
Lastly, let’s not forget the launch of Etherealize, an Ethereum marketing firm aimed at wooing Wall Street. With all these developments, one can only wonder what the future holds for the world of crypto. Will Eric Trump become the next crypto guru? Will Ethereum continue its upward trajectory? Stay tuned, dear readers, for more thrilling updates from the wild world of cryptocurrency. 📈
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2025-02-04 07:32