news 
ETH Price Rebounds on Eric Trump Endorsement but Still Trails Peers
Ethereum prices surged by 11% on February 4 after a statement from Eric Trump, the son of US President Donald Trump. However, despite this significant gain, ETH still trails its peers in the market.
The price hike comes as World Liberty Finance, a DeFi project led by the Trump family, purchased an additional 1,826 Ethereum (ETH) worth $5 million. This move has added to the overall losses of the platform, which now sits at around $31 million due to an average purchase price of $3,354.
This comes as many other altcoins have already made a full recovery from their recent downturns. For instance, XRP has surged by over 20% and DOGE has risen by 22%. Cardano (ADA) has also outperformed ETH with gains of 27%, while Chainlink (LINK), Avalanche (AVAX), Stellar (XLM), and Sui (SUI) have all wiped out their losses.
It is clear that the cryptocurrency market remains highly volatile, as a statement from Eric Trump could not stem the tide of bearish sentiment surrounding Ethereum. The project’s underperformance continues to weigh heavily on investors’ perceptions of ETH.
Despite this, many continue to view the asset as having long-term potential and potential for significant growth. It is also worth noting that World Liberty Finance’s continued purchases of ETH could potentially contribute to a rebound in the price of the cryptocurrency.
As with any investment decision, it is essential for investors to conduct their own research before deciding whether or not to buy, sell, or hold any investments.
Source: cryptopotato.com
