Ethereum’s price saw a notable rebound following public support from Eric Trump, yet it continues to underperform compared to the broader crypto market. While the asset has recovered from recent lows, its gains remain modest compared to other leading cryptocurrencies.
Ethereum Sees a Boost but Struggles to Keep Up
ETH experienced an 11% surge, reaching $2,900 during early Asian trading on February 4 before slightly pulling back. This comes after a sharp decline to $2,260 on Monday, triggered by President Donald Trump’s announcement of new trade tariffs on Canada, Mexico, and China. However, with some of these tariffs now suspended, the crypto market has partially recovered.
Ethereum also received a temporary lift after Eric Trump expressed optimism on X (formerly Twitter), saying, “In my opinion, it’s a great time to add ETH.” While this remark sparked discussion, many users reacted with skepticism, and some dismissed it entirely. Ethereum educator Anthony Sassano humorously summarized the situation, stating, “Trump nuked ETH, and then his son saves it. What timeline are we even in right now?”
Ethereum Still Lags Behind Bitcoin
Despite its modest recovery, Ethereum has yet to reclaim the $3,000 mark, whereas Bitcoin briefly surpassed $100,000, reaching an intraday high of $102,600 in late Monday trading.
Ethereum’s ETH/BTC ratio remains near its lowest level since December 2020, currently sitting at 0.028, according to TradingView. Over the past two and a half years, Ethereum has steadily lost ground against Bitcoin, struggling with weak market sentiment.
Market analyst IncomeSharks reassured investors, saying, “No one should panic over a red daily candle now. That was an impressive close and save by the bulls. I’d be shocked if buyers didn’t take a break.”
Meanwhile, the Trump family’s DeFi project, World Liberty Finance, has been steadily accumulating Ethereum. According to Lookonchain, the project recently acquired 1,826 ETH (worth approximately $5 million), adding to its growing holdings. In total, it has purchased 61,114 ETH valued at $205 million, with an average buy price of $3,354, currently at an unrealized loss of $31 million.
Altcoins Recover at a Faster Pace
While Ethereum remains sluggish, several altcoins have shown stronger rebounds:
• XRP surged 20%, climbing above $2.75.
• Dogecoin (DOGE) jumped 22% to $0.29.
• Cardano (ADA) saw a 27% surge, exceeding $0.80.
• Other altcoins, including Chainlink (LINK), Avalanche (AVAX), Stellar (XLM), and Sui (SUI), also posted stronger recoveries than Ethereum, erasing most of their recent losses.
Conclusion
Although Ethereum has shown some resilience, it continues to lag behind Bitcoin and other altcoins in terms of recovery. While Eric Trump’s endorsement and institutional accumulation offer bullish indicators, Ethereum remains weighed down by bearish sentiment. To regain momentum, ETH needs to break through the $3,000 resistance, or it risks being overshadowed by faster-recovering assets.
