Eric Trump is under fire for his bullish comments on Ethereum. | Source: CCN.
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Key Takeaways
Eric Trump reignited the Ethereum debate after declaring, “ETH is pumping hard.”
Ethereum would need to rally about 463% from roughly $1,776 to reach a $10,000 price target.
Tom Lee argues Ethereum could eventually become a $5 trillion network, implying a price near $41,500.
Ethereum’s long-term price outlook has returned to the spotlight after Eric Trump publicly backed the crypto, declaring that “ETH is pumping hard” and that “crypto is the future.”
His comments come as analysts continue debating whether Ethereum can eventually reach $10,000, while some of Wall Street’s biggest bulls argue that its long-term upside could be significantly higher.
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Eric Trump praised Ethereum in a post on X on July 11 after sharing a screenshot of the ETH/BTC trading pair.
“ETH is pumping hard! Great to see!” he wrote.
Trump has become one of the most vocal high-profile supporters of crypto through his involvement in the Trump family’s World Liberty Financial crypto venture — though his social media endorsements have regularly drawn criticism.
His latest comments came after Ethereum recently strengthened against Bitcoin, with the ETH/BTC pair breaking above recent levels after months of underperformance.
At the time of his post, Ethereum had climbed back above $1,800 while Bitcoin traded near $64,000.
Ethereum Price Slips, Criticism Grows
Despite the recent optimism, Ethereum has since returned to the back foot.
According to CoinMarketCap analysis, Ethereum was trading at $1,776, down 0.96% over the previous 24 hours, reflecting a broader market sell-off.
The reversal quickly led to a flurry of memes of criticism across X aimed towards Trump’s outdated post.
“Literally the same price it was 5 years ago,” said one X user.
Criticism was aimed at Eric Trump | Source: X
Another wrote: “Dude posts about crypto, less than an hour later it retraces all its daily gains…while insiders talked about the sell off.”
Many users also posted memes making fun of Trump’s string of failed predictions and poorly timed posts across crypto.
CoinMarketCap said the decline was primarily a “beta-driven sell-off,” with Ethereum moving closely alongside Bitcoin as risk appetite deteriorated across crypto markets.
It comes after users last week questioned whether Trump’s past bullish comments on Bitcoin encouraged investors to buy while shareholders suffered significant losses.
With a screenshot last week of Trump’s previous multiple “but the dip” posts, one X user stated:
“Honest question, can we sue the Trumps for this? Were the trumps dumping on shareholders while simultaneously telling everyone to buy? Someone should look into that.”
Eric Trump made previous calls to ‘buy the dip’ | Source: X(@DoofyOfficial)
There is no evidence that Eric Trump or American Bitcoin sold Bitcoin holdings while making those public statements.
What Would Ethereum Need to Do to Reach $10,000?
At its current price of approximately $1,776, Ethereum would need to gain around 463% to reach $10,000.
That would require the token to increase by roughly $8,224 per ETH, representing a price multiple of around 5.6 times current levels.
To achieve this, the move would require a combination of institutional demand, stronger network activity, and a broader crypto bull market led by Bitcoin.
In the near term, analysts remain focused on whether Ethereum can first reclaim and hold the $1,800 level before attempting a move back toward higher resistance levels.
Analysts Believe Ethereum $10,000 Price Is Possible
The possibility of Ethereum eventually reaching five figures has been debated by analysts for months.
Writing in February, Motley Fool analyst Dominic Basulto argued there were two primary bullish cases supporting such a move.
“One is by looking at technical indicators related to overall trading volume, liquidity, and the pattern of accumulation by large crypto investors,” he wrote.
He added that blockchain activity was also showing encouraging signs.
Basulto noted Ethereum had previously demonstrated its ability to move rapidly during strong bull markets.
Adding: “Ethereum traded for $5,000 just six months ago. So a doubling in price to $10,000 would not be so extraordinary when viewed from this perspective.”
Tom Lee — The Ethereum Price Mega Bull
Meanwhile, Fundstrat co-founder and BitMine Chairman Tom Lee has argued Ethereum could eventually surge to around $41,500 per token — more than 22 times its current price.
Last week, Lee said in an interview that he predicts the blockchain could grow into a $5 trillion network powering the tokenization of global financial assets.
Speaking on the New Era Finance podcast, Lee said Ethereum’s current valuation fails to reflect the scale of the opportunity as trillions of dollars worth of traditional assets migrate on-chain.
He contrasted Ethereum’s market value with major global asset classes, highlighting gold’s worth of around $22 trillion.
“…to make them composable and monetized and digitized, you’re going to have to run it on Ethereum and other blockchains,” Lee said.
He argued that Ethereum remains “grossly undervalued” relative to its future role in the financial system.
“Should Ethereum be a trillion or $2 trillion or a $5 trillion network value? Yeah, I can easily see it in the next few years.”
“I think there’s a lot of upside. I’m pretty confident about the price upside.”
That would represent an increase of approximately 2,240% from Ethereum’s current price of around $1,776.
It would value the network above today’s largest publicly traded companies, while still remaining well below gold’s estimated market value.
Lee argued that investors have become overly focused on Ethereum’s recent price weakness rather than the blockchain’s long-term fundamentals.
“To me, this is more signs of crypto spring, because the fundamentals are actually much stronger and the growth ramps look much bigger, but the price is lagging.”
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Kurt Robson is a London-based reporter at CCN, specialising in the fast-moving worlds of crypto and emerging technology. He began his career covering local news in Cornwall after graduating from Falmouth University with First Class Honours in Journalism. There, he cut his teeth on everything from council meetings to missing swans.
He quickly rose through the ranks to become a frontline journalist at several of the UK’s leading national newspapers. Over the years, he has interviewed musicians and celebrities, reported from courtrooms and crime scenes, and secured multiple front-page exclusives.
Following the upheaval of the COVID-19 pandemic, Kurt shifted his focus to technology journalism—just ahead of the AI boom. With a natural curiosity and a trained eye for emerging trends, he has found a new rhythm in reporting on innovation.
At CCN, Kurt's work focuses on the cutting edge of crypto, blockchain, AI, and the evolving digital world. Drawing on his background in people-first reporting and his deep interest in disruptive tech, Kurt delivers stories that are insightful, entertaining, and human-centric.
