ETH/USD: Ethereum Surges 25% to $2,300 as Crypto Traders Hope for US-China Deal

Second-largest coin was languishing near a three-year low but all that pent-up demand was unleashed at the first sight of tariff progress.

🔥 Ether Pops 25% on Surprise Trump-UK Deal

• Ethereum prices ETHUSD shot higher by a monster 25% on Thursday and held onto the gains early Friday after US President Donald Trump touted a game-changing deal with the UK.
• The deal spares the UK from the “reciprocal tariffs” announced April 2 but 10% duties still remain in place. Trump praised the agreement as “a full and comprehensive one.” Now, crypto traders are hopeful the same could happen with China.

🔑 Trade Truce = Risk-On Rally

• What’s a China deal to do with Ether? Not much specifically — but broadly, the entire crypto market stands to benefit from loosening the tense trade discussions between the US and China.
• Ether, which was for weeks shoved down to levels around $1,600 to $1,800, soared to a Friday session high of $2,300 from a Thursday low of $1,811 per token.
• Cryptocurrencies, as a high-risk asset class, are sensitive to global trade wars, tariffs jitters and geopolitical uncertainty. Once these clear up and the outlook is bright again, investors could take on higher risk and gain more conviction to place bigger bets out there.

🎉 Ether Rebounds From 3-Year Low

• As to Ether getting a huge chunk of the market’s attention — its prices recently hit a three-year low of $1,383. In other words, all those gains from the past three years were wiped out. Demand was there all along — it just needed a catalyst.
• Bitcoin BTCUSD, on the other hand, was a much more preferred crypto despite the looming global uncertainty. Crypto bros held onto their Bitcoin stacks and only let it sink to a November low of $74,000. The flagship coin also enjoyed the wind of optimism with a 6% rise on Thursday to $104,000.