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 hit $2,900 after US President Donald Trump’s son Eric Trump said Ether was a good buy and Donald Trump put a temporary halt on Mexico and Canada tarrifs.

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.

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.