The sudden rise comes barely 24 hours after the price of Ethereum plunged and was aided by a plug from the president’s son.

Ethereum prices were sent soaring this week, with President Trump’s son Eric tweeting a surprise endorsement of the digital asset on Tuesday.

Eric Trump's recent Bitcoin endorsement caused a modest price increase to $98,000, following his earlier Ethereum tweet that coincided with a 35% price recovery, while Trump-linked World Liberty Financial relocated its crypto holdings to Coinbase amid a 90% portfolio value decline.

Ether rebounded to above $2,900 after US President Donald Trump placed a halt on tariffs aimed at Canada and Mexico, while his son, Eric Trump, told his 5.4 million X followers that “it’s a great time to add ETH.

Eric Trump promoted Ethereum on X Monday, drawing criticism from prominent Bitcoin maximalists hours after World Liberty Financial, the DeFi project that the Trump family is closely involved in, moved over $100 million worth of $ETH to Coinbase.