The recent rise in Ether's price to $3,800 has sparked discussions in the crypto community, including comments from Eric Trump, who responded to criticism about his earlier investments.
Ether Price Surge
Ethereum (ETH) has reached the mark of $3,800, receiving support during a month-long rally. According to CoinGecko, the price of ETH has risen from $2,877 since early February, reflecting an approximate 30% increase. However, it is important to note that the price has also experienced significant volatility, dropping nearly 49% within four weeks following Eric Trump's announcement of support for the cryptocurrency.
Eric Trump's Response
Eric Trump responded on the X platform stating, "How am I doing now @TedPillows?" He highlighted that ETH's price has risen 35% in the last five months, urging users to "embrace volatility." According to him, "If you were smart, you would have also bought the dips (as I said to do)."
Trump Family's Connection to Cryptocurrencies
The Trump family has close ties to the crypto industry. His media company announced it holds $2 billion worth of Bitcoin assets. Additionally, Eric and Donald Trump Jr. are founders of American Bitcoin, which raised $220 million for Bitcoin acquisition and mining equipment.
Eric Trump's recent remarks on Ether's rise emphasize not only his family's growing interests in cryptocurrencies but also the volatility inherent in ETH's price history. Investors who may have followed his advice face a complex landscape of risks and opportunities in the current cryptocurrency market.
