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

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 had to deal with heavy blows after Donald Trump announced his import duties against Canada, Mexico and China. The Vitalik Buterin project fell by almost 40% after the announcement

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.

Trump's son has posted on X that this is a “great time to buy ETH” after his Decentralized Finance (DeFi) company purchased $10 million worth of the asset.

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.