President's Son Pumps $ETH – Bitcoin Maxis Push Back

Presidential son Eric Trump on Monday urged cryptocurrency users to consider buying Ethereum (ETH) while prices haven't recovered significantly, seemingly triggering a price pump on the world's second-largest crypto asset by market cap.

Son of former U.S. President Donald Trump, Eric Trump, has urged cryptocurrency users to consider buying Ethereum (ETH) as prices have yet to recover significantly. His statement appears to have sparked a price pump in the world's second-largest crypto asset by market capitalization.

The token surged nearly 14% on Monday and was trading above $2,800 as of late Monday night. Just a day earlier, the crypto asset had plummeted to as low as $2,400 amid a broader downturn in the cryptocurrency market, triggered by President Trump's tariff announcements.

Son of Former U.S. President Pumps $ETH - Bitcoin Maxis Push Back

"In my opinion, it's a great time to add $ETH," Trump's son wrote on X, a platform that combines social media and Web3, eliciting mixed reactions from the crypto industry, particularly Bitcoin maximalists.

Ethereum holders were delighted by the younger Trump's statement, and holders of other cryptocurrencies also attempted to persuade Eric to consider other altcoins and meme coins.

However, Bitcoin maximalists were largely unimpressed, with some expressing strong disapproval. For many maxis - BTC holders who believe Bitcoin is the only cryptocurrency worth holding - Eric's move to promote ETH is ill-advised.

Among the BTC maxis who took to the comments section of Eric's post to voice their opposition to his support for Ethereum were Riot Platforms' VP of Research Pierre Rochard and libertarian and BTC holder Bitcoin RothBard.

Adding ETH to my list of things not to buy 🫡

It’s never a good time to add ETH. Bitcoin only.

Well it's going to zero so... Have fun with that.

I think it's a great time for you to watch this clip by Saylor

Why is Son of Former U.S. President Promoting $ETH?

It's unclear what prompted Eric's decision to promote Ethereum, but his post came just as a wallet linked to DeFi project World Liberty Financial (WLFI) moved millions in ETH to Coinbase Prime.

The wallet, which is being tracked by leading crypto analytics firm Arkham Intelligence, had about $33.16 million in cryptocurrencies, including some $9.32 million in TRON (TRX) and $15 million in USDC stablecoins, as of late Monday.

Meanwhile, WLFI stated earlier on Monday that it was not selling any of its crypto holdings and was instead "making routine movements of our crypto holdings as part of regular treasury management, and payment of fees and expenses and to address working capital requirements."

Son of Former U.S. President Prompted to Buy $ETH as Prices Surge Nearly 14%

WLFI's clarification comes amid concerns that the project may have been dumping its crypto coins given the volatile situation in the crypto market.

According to Decrypt, nearly $168 million in ETH had been moved by WLFI on Monday afternoon, leading to speculation that the project may have begun selling its coins.

notably, WLFI snapped up over a million dollars' worth of crypto assets as Trump walked into the White House for the second time last month. Out of the said crypto purchases, WLFI bought $47 million in Ethereum.

It remains to be seen whether WLFI, which has appointed the U.S. president as its "chief crypto advocate" and the three Trump brothers as Web3 ambassadors, will purchase more ETH following the latest wallet move. For now, the project's wallet only holds some 66 ETH, valued at over $190,000.