Ethereum Surges 8% as Trump Tariffs Pause, Eric Trump Endorses

Ethereum's price has seen a significant uptick today, with the cryptocurrency rebounding strongly following a pause in U.S. President Donald Trump's tariff proceedings against Canada and Mexico. In the last 24 hours, Ethereum has experienced an 8% growth, marking a notable recovery from the market's recent decline.

On February 1, 2025, President Trump announced his intention to impose tariffs on Mexico and Canada, which initially led to a significant drop in Ethereum's price. The market witnessed a severe correction of 13.103% in the first two days of the month, with the price of Ethereum falling from around $3,301.00 to its current level. However, following the White House's hint at halting the proposed tariff proceedings, Ethereum began to show signs of recovery, with a mild growth of 0.19% yesterday and an 8% rise in the last 24 hours.

Adding to the positive sentiment, Eric Trump, the president's son, recently endorsed Ethereum on his social media platform, stating that it is a great time to buy the cryptocurrency. Although his initial post was later edited to appear less persuasive, his endorsement has sparked reactions and may have contributed to the recent price increase.

In addition to the geopolitical and endorsement factors, World Liberty Financial, a decentralized finance (DeFi) project linked to the Trump family, has made notable moves in the crypto space. The project recently transferred approximately $307 million worth of digital assets to Coinbase Prime, primarily composed of Ethereum (ETH) and Wrapped Bitcoin (WBTC). This transfer, executed across 13 separate transactions, represents a significant reduction in the project's on-chain holdings, from $363 million to roughly $33 million.

World Liberty Financial addressed the transactions on a social media platform, maintaining that the transfers were part of routine treasury management aimed at covering operational expenses and optimizing its treasury. While the official statement describes this as a standard practice, the movement has raised questions about the project's liquidity, strategic positioning, and potential regulatory concerns.

As Ethereum continues to rebound, it is essential to monitor the project's developments and the broader market trends. The recent price increase, coupled with the geopolitical developments and the project's activities, suggests a positive