Ethereum (ETH) may be the current crypto of choice for America’s most powerful family. US President Donald Trump’s son, Eric Trump, took to X and said, “In my opinion, it’s a great time to add $ETH.”
In my opinion, it’s a great time to add $ETH.
— Eric Trump (@EricTrump) February 3, 2025
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Shortly after Eric Trump’s X post, cryptocurrency analysis firm LookOnChain reported that Trump’s World Liberty Financial bought 1826 ETH, worth $5 million, today.
Trump's World Liberty(@worldlibertyfi) bought another 1,826 $ETH($5M) today.
— Lookonchain (@lookonchain) February 4, 2025
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 transferred 86,296 $ETH($235M), 647 $WBTC($65.5M), 256,315… pic.twitter.com/Oerqt5TaoX
Is Ethereum Rallying Because Of Trump’s ETH Purchases?
ETH is up 7.3% in the daily charts. Despite the rally, the asset is down 15.7% in the weekly charts, 15.9% in the 14-day charts, and 25.5% over the previous month. ETH has struggled to gain momentum over the last few months. Bitcoin (BTC) hit a new all-time high after an ETF approval. ETH, on the other hand, failed to do so.
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Ethereum’s (ETH) latest rally could be due to Bitcoin (BTC) briefly reclaiming the $100,000 level. BTC has since fallen to the $99,000 mark. The resurgence is likely due to President Trump announcing a 30-day pause on tariffs.
Will The Asset Continue To Rally?
According to CoinCOdex, Ethereum (ETH) will rally over the next few days and hit $3402 on Feb. 21, 2025. The platform anticipates the asset to face a slight correction in early March before breaking into a big rally. CoinCodex predicts ETH will hit a new all-time high of $5660.91 on May 5, 2025. Hitting $5660.91 from current price levels will entail a rally of about 108.14%.
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There is also a possibility that Ethereum (ETH) will dip in March. Trump may reinstate his tariffs in 30 days. The cryptocurrency market may face another correction. In such a scenario, ETH may not rise to a new all-time high. The asset’s performance over the next few weeks is yet to be seen.