The recent sale of Ethereum by the Trump-backed WLFI has sparked speculation about institutional confidence in ETH. Despite Eric Trump’s endorsement, the significant drop in Ethereum’s value has raised doubts about high-profile backers of the cryptocurrency. In February, Eric Trump declared it was a “great time” to buy ETH, but since then, the price has decreased by 46%, leading to questions about market timing and political influence.
Following Eric Trump’s endorsement, Ethereum’s price has struggled to recover, indicating that institutional support may be dwindling. WLFI’s decision to sell a large portion of its Ethereum holdings at a loss contradicts Trump’s earlier endorsement of the cryptocurrency. The move suggests a disconnect between public enthusiasm for crypto and actual investment decisions being made behind closed doors.
As WLFI sells off Ethereum, other Trump-linked crypto assets are also being withdrawn, such as $30 million in MELANIA tokens. This trend raises concerns about the reputation of Ethereum and the broader cryptocurrency market. The reluctance of prominent figures like the Trump family to hold onto their crypto holdings begs the question: is institutional interest in Ethereum fading, or was it never fully established to begin with?
The sell-off of Ethereum by WLFI and other Trump-linked wallets highlights a broader trend of backing away from crypto assets. As Ethereum’s value continues to fluctuate, it is clear that institutional confidence in the cryptocurrency is wavering. The recent moves by Trump-affiliated entities to sell off their Ethereum holdings suggest a lack of conviction and a potential shift in sentiment towards the cryptocurrency. Investors who took Eric Trump’s endorsement at face value may now be questioning the true value of Ethereum.
With the sale of Ethereum by WLFI and the movement of other Trump-related crypto assets, the cryptocurrency market is facing a credibility challenge. The sell-off of Ethereum at a loss by high-profile backers raises concerns about the future of institutional support for the cryptocurrency. As Ethereum’s value continues to decline, it is becoming increasingly clear that confidence in the cryptocurrency is decreasing, leading to doubts about its long-term viability as an investment. The sell-off by Trump-backed entities is a clear signal that institutional interest in Ethereum may be waning.
