Ethereum Jumps to $2,900 Amid Trump-Linked Market Activity

• Ethereum surged from $2,300 to over $2,900 within 24 hours following a volatile market downturn and subsequent recovery.
• Political events, including a tariff pause by President Trump and an endorsement from Eric Trump, played a role in Ethereum’s price movement.
• World Liberty Financial liquidated 90% of its $363 million crypto holdings, coinciding with increased ETH deposits from new and inactive wallets.

The Ethereum cryptocurrency market saw a substantial price increase that took it from $2,300 to $2,900 throughout a single day. The market rebound occurred shortly after a February 3 downturn which sent Ether prices to about $2,300. The price recovery coincided with key political and financial developments that influenced investor sentiment.

Political Developments Impact Ethereum’s Price

The initial Ethereum rebound to around $2,700 came after U.S. President Donald Trump announced a temporary pause on planned trade tariffs affecting Canada and Mexico. Shortly after, Eric Trump’s endorsement of Ethereum on X acted as a catalyst, further accelerating the price increase. The quick recovery highlighted the sensitivity of crypto markets to political events and public endorsements from high-profile figures.

World Liberty Financial’s Crypto Liquidation

Ethereum’s sharp rebound followed a major sell-off by World Liberty Financial, a decentralized finance (DeFi) project reportedly linked to President Donald Trump. On February 3, the project liquidated more than 90% of its $363 million crypto holdings, including substantial amounts of ETH, WBTC, AAVE, ENA, and LINK. The assets were transferred to Coinbase Prime and other exchange wallets, often routed through intermediary addresses. The liquidation coincided with increased ETH deposits from newly created or previously inactive wallets.

Ethereum’s Current Price TrendsAs of now, Ethereum is trading around $2,720, with an intraday high of approximately $2,900 and a low near $2,500. The price surge reflects increased trading activity amid broader market developments and investor reactions to recent political and financial shifts.