TLDR
- Eric Trump took to social platforms to voice his support for Ethereum, which was followed by World Liberty Financial's acquisition of 1,826 ETH valued at $5 million.
- Ethereum saw a dramatic leap from $2,300 to $2,900 in just one day, recording a 7.3% rise, even though the cryptocurrency remains 15.7% down for the week.
- World Liberty Financial has amassed a 61,114 ETH portfolio, approximately $205M in value, at an average buying price of $3,354 each, currently incurring a $31M unrealized loss.
- CoinCodex predicts Ethereum will climb to $3,402 by February 21, 2025, with the possibility of reaching a new peak of $5,660.91 by May 5, 2025.
- The crypto resurgence aligns with President Trump’s announcement of a tariff relief period of 30 days, although future reinstatement remains a source of market uncertainty.
The cryptocurrency market experienced notable shifts as Ethereum's valuation jumped due to Eric Trump's social media declaration and subsequent $5 million Ethereum acquisition by World Liberty Financial. This price boost marked a recovery, climbing from $2,300 to $2,900 in a day.
On February 3, 2025, Eric Trump expressed his positive view of $ETH on the social network X, stating, 'In my opinion, it's a great time to add $ETH.' Following this, World Liberty Financial made a significant purchase of 1,826 ETH, bolstering their stash.
In my opinion, it’s a great time to add $ETH .
— Eric Trump (@EricTrump) February 3, 2025
Analysis by LookOnChain shows World Liberty Financial gathered a total of 61,114 ETH, worth around $205 million. Their average purchase rate was $3,354 per ETH, with current market conditions reflecting an unrealized $31M loss.
This pricing uptick coincided with President Trump's declaration to halt proposed tariffs on Canada and Mexico for 30 days, temporarily alleviating pressure on the cryptocurrency market.
Ethereum registered a daily rise of 7.3%, though larger timeframes suggest ongoing asset pressure. Weekly data shows a 15.7% fall, with a 14-day analysis indicating a 15.9% dip. A monthly perspective reveals a 25.5% downturn, underscoring recent market volatility.
Bitcoin briefly touching $100,000 might have strengthened Ethereum's optimism. However, BTC has since retreated to around $99,000, underlining the fragile nature of the market rebound.
World Liberty Financial’s dealings have piqued interest among market analysts. Recently, they moved significant crypto assets, including 86,296 ETH valued at $235 million and 647 WBTC worth $65.5 million, suggesting active portfolio strategy.
Market analysis provider CoinCodex projects Ethereum will ETH could hit $3,402 by February 21, 2025. While a slight dip is expected in March, there's potential for reaching unprecedented levels, targeting $5,660.91 by May 5, 2025.
This projected price rise equates to a 108.14% climb from current levels, but market experts warn these forecasts rely on stability without major regulatory upheavals.
World Liberty Financial’s strategic approach reveals a focus on acquiring Ethereum during downturns, evidenced by their recent purchase amidst market weakness. Their total holdings rank them prominently among institutional ETH investors.
Trump's World Liberty( @worldlibertyfi ) bought another 1,826 $ETH ($5M) today.
World Liberty has bought a total of 61,114 $ETH ($205M) at an average price of $3,354, with a loss of $31M!
Today, World Liberty also moved 86,296 $ETH ($235M), 647 $WBTC ($65.5M), 256,315… pic.twitter.com/Oerqt5TaoX
— Lookonchain (@lookonchain) February 4, 2025
The surge in trading activity across major exchanges during the price recovery period indicates widespread market engagement, extending beyond institutional players. Within 24 hours, ETH's trading volume surpassed $59 billion worldwide.
The temporary tariff halt introduces an air of unpredictability into future market forecasts. The possibility of reinstating tariffs post-30-day duration could sway market sentiment and price trends in the weeks ahead.
Ethereum's price rebound happened amid a wider context of market dynamics, with increased institutional activity and regulatory changes playing roles. The asset continues to be influenced by crypto-centered updates and broader economic policy shifts.
Technical signs point to the price rebound establishing new support barriers, though cautious optimism prevails amid potential volatility. Analysts closely watch Ethereum's ability to maintain prices above critical technical marks.
Recent blockchain insights show heightened network activity alongside the price rise, with transaction levels and gas fees increasing, reflecting active user interactions.
Improved liquidity metrics depict enhanced efficiency in trading floors during the recovery, with bid-ask gaps closing at major exchanges, indicating increased market depth.
World Liberty Financial’s purchase timing reveals a calculated approach to portfolio expansion, illustrating their readiness to bolster holdings during crypto market downturns.
