Ether's price recovered to over $2,900

Ether's price recovered to over $2,900 after US President Donald Trump suspended tariffs on Canada and Mexico. Eric Trump, in a post to his 5.4 million followers on X, suggested it was a good time to invest in Ether, although he later edited the message to remove a specific phrase. This occurred after a significant drop in the crypto market on February 2 and 3, attributed to Trump's tariff proposals, which caused Ether to fall 16% in one hour, hitting a low of $2,368. Before Eric's announcement, Ether had already bounced back to around $2,700 following the temporary tariff suspension. It then peaked at $2,913 before settling at $2,806. Meanwhile, the Trump family's World Liberty Financial crypto platform transferred $307.41 million in assets to Coinbase and converted nearly 20,000 Lido Staked Ether into Ether, also purchasing 1,826 Ether for $5 million. These transactions may support WLF's upcoming lending protocol. In January, the Ethereum Foundation initiated changes to better assist developers within the decentralized finance sector, allocating 50,000 Ether to potentially bolster its treasury through staking rewards. An Ethereum core developer indicated that these rewards could help fund the foundation's budget while alleviating some market pressure. Additionally, a marketing firm aimed at institutional investors, Etherealize, launched to promote Ethereum's potential to Wall Street.
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