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.

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.