Eric Trump mocks Ethereum bears after ETH bounces 35% from his call
Key Takeaways
- Ethereum rebounded over 35% since Eric Trump's bullish call, surpassing $3,700 from an April low.
- Institutional demand and ETF approval expectations fueled ETH's recent surge.
Share this article
After catching heat earlier this year for bull-posting Ethereum ahead of a sharp decline, Eric Trump finally enjoys a turnaround as the coin bounces back nearly 35% from his promo high.
Ethereum’s green candles prompted the US president’s son to celebrate. On Monday, Eric posted the iconic “Mic Drop” minion GIF from Despicable Me as he reshared his February post declaring, “It’s a great time to add $ETH.”
“Embrace volatility. If you were smart, you would have also bought the dips (as I said to do),” he replied to an X user.
The second-largest crypto asset by market value was trading at around $2,800 at the time of Eric’s February call. It later fell to $1,470 in April, its lowest level since November 2023.
However, the asset has since rebounded sharply and is now trading above $3,700, up more than 155% from its April low, CoinGecko data shows.
Growing institutional demand and corporate accumulation are key drivers behind Ethereum’s recent rally. Moreover, hopes that the SEC will approve staking features for spot Ethereum ETFs, including a proposal from BlackRock, are helping fuel the momentum.
Eric also dropped a “revenge” comment on an April post by market analyst Ted Pillows, who had noted that ETH was down 40% since Eric’s tweet.
Share this article
