Ethereum Surges on Eric Trump's Endorsement

Ethereum's Price Surge and Eric Trump's Endorsement

Ethereum (ETH) has experienced a significant price surge, reaching around $2,595, after a remarkable three-day performance that saw it soar from approximately $2,400 to over $2,900 in less than 24 hours. The catalyst for this surge was an unexpected endorsement from Eric Trump, the son of former U.S. President Donald Trump, who wrote on Twitter that he believes now is a great time to add ETH to one's portfolio.

Trump's tweet was somewhat cryptic, leaving it unclear whether his recommendation to "add" Ethereum was directed at investors in general or if it also implied the digital currency should have a role in the country's larger strategic calculations. In recent weeks, there have been ongoing rumors that the U.S. is set to launch a strategic Bitcoin reserve, and President Trump signed an executive action to create a sovereign wealth fund for the country. However, neither the President nor senior White House officials appear to have designated Ethereum as a priority for either of these initiatives.

The Trump family, however, does have a vested interest in Ethereum through World Liberty Financial, a new decentralized finance (DeFi) project backed by the President that has significant cryptocurrency holdings. A popular Ethereum educator and investor, sassal0x, tweeted a few weeks ago that Trump now owns 55,000 ETH.

PlutoChain: A Potential Game-Changer for Bitcoin

Bitcoin (BTC) faces long-standing issues such as slow transaction speeds, high fees, and network congestion. While blockchains like Ethereum and Solana have introduced innovative scaling solutions, Bitcoin has yet to fully evolve to meet the growing demands of the market. PlutoChain, a hybrid Layer-2 solution, could be the key to unlocking Bitcoin's next phase of adoption.

Designed to improve efficiency and usability, PlutoChain could operate alongside Bitcoin to ease congestion and optimize transaction processing without altering Bitcoin's core infrastructure. One of PlutoChain's biggest advantages is speed, offering 2-second block time on its own L2 chain, compared to Bitcoin's 10-minute block time. Additionally, PlutoChain could tackle Bitcoin's expensive transaction fees by dramatically reducing them, lowering barriers for users looking to adopt Bitcoin for everyday use.