Eric Trump Says Ethereum is Undervalued, Backs Analyst’s $8,000 Target

U.S. President Donald Trump continues to draw attention for his pro-cryptocurrency stance—and now his son, Eric Trump, is turning the spotlight to Ethereum.

In a recent post on X, Eric Trump backed a bold valuation thesis suggesting ETH is significantly undervalued in today’s market.

A bullish signal from the Trump circle

Eric Trump, director of Bitcoin mining company American Bitcoin and an open supporter of crypto, retweeted a post by analyst Ted Pillows, who argued that Ethereum is tracking global liquidity and should already be priced above $8,000.

Pillows based his argument on the correlation between Ethereum’s historical price trends and M2 money supply growth. He described ETH as one of the most promising opportunities in the market right now—an opinion Eric Trump echoed with a simple but direct response: “I agree.”

Agreed! $ETH https://t.co/3vUn5kOiT0

— Eric Trump (@EricTrump) July 24, 2025

Eric has previously stated that his crypto portfolio includes Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and Sui (SUI), signaling broader interest in Layer-1 assets.

Short-term headwinds temper long-term optimism

While the Trump family’s crypto enthusiasm fuels market buzz, analysts are sounding cautious notes about Ethereum’s near-term outlook. Markus Thielen, head of research at 10X Research, warned this week that ETH may be facing an unstable period as borrowing costs rise sharply.

Thielen pointed to data from Aave, a leading Ethereum-based lending platform. Since July 8, Aave’s ETH borrow utilization has surged from 86% to 95%, pushing variable interest rates higher. This spike in borrowing demand has made it less profitable to borrow ETH—signaling potential strain on the network.

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“If this dynamic doesn’t cool down,” Thielen warned, “it could trigger a meaningful pullback in Ethereum, especially if funding rates and positioning stay tight.”

He also noted that while technical indicators now show signs of overvaluation, his longer-term view remains optimistic. Thielen expects more favorable market conditions—and a return to upside momentum for ETH—sometime after September.

Conclusion

As institutional demand grows and figures like Eric Trump publicly support Ethereum’s long-term case, the spotlight on ETH continues to intensify. But with borrowing pressures building and volatility rising, the next few weeks may test how far sentiment alone can carry the market.

Kosta Gushterov

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.