October is often perceived as a favorable month for the cryptocurrency market. But this year altcoins have experienced a real earthquake. Ethereum's founder sent shockwaves through the cryptocurrency market after his massive ETH sale.
Currently, Ethereum is unable to regain its previous upward momentum, and the sudden sale of one of the network's founders has caused a wave of speculation among investors.
Vitalik Buterin's massive sale
ETH's price action has gained momentum towards the downside and there appears to be simultaneous selling on both the retail and institutional sides. Ethereum co-founder Vitalik Buterin joined the selloff and liquidated a significant amount of tokens in one day.
According to a post by X shared by cryptocurrency enthusiast and DeFi researcher OxNobler, Buterin 160,000ETH approximately $650 million. After this significant sell-off, Ethereum's founder sounded a wake-up call in the market.
Such large sell-offs usually raise numerous questions, such as what is the motivation behind such moves and what consequences may arise from the further price of ETH.
Given overall market volatility and anxious investor attitudes, this appears to be a particularly important time for leading chains.
Do these moves reflect strategic portfolio management, market caution, or a signal of a change in sentiment among Ethereum executives? There is no clear answer at the moment, but the sell-off adds new uncertainty to ETH market dynamics.
Ethereum’s Strategic Reserves Are Declining
The Ethereum Foundation’s strategic ETH holdings also continued to decline. This is a sign that organizations are changing the way they manage their assets and financial strategies.
According to on-chain data on Tuesday, the foundation sold 2,400 ETH worth about $9.3 million, or about 0.18% of the altcoin's total supply.
Over the past five months, 45,000 ETH has been sold, worth approximately $175 million. In May of this year, holdings were 265,400 ETH, and today they have decreased to 220,350 ETH, with over 45,000 liquidated.
At the time of writing the article, the price of ETH was around USD 3,867. Despite the negative price action, investors have expressed positive sentiment towards ETH. During this period, trading volume increased by more than 31%.
What does this mean for the market and your wallet?
If one of the chain's founders decides to sell too much, two extreme interpretations arise.
- On the one hand, it may be routine asset management (e.g. selling part of capital for diversification purposes).
- On the other hand, it could also be a sign that there is a game change that investors should consider.
This doesn't automatically mean that Ethereum's long-term thesis has failed, but the warning signs are clear.
Ethereum may still be one of the best cryptocurrencies for investment, but the current situation shows that even the largest projects are not immune to sudden changes in the sentiment and activity of large players.
In this context, how do new cryptocurrencies compare and where should we look for advantages?
In the face of this shock to the ETH market, the attention of many investors is drawn to low-capitalization projects, often referred to as new cryptocurrencies. This segment has potential, but also high risk.
It is worth looking at projects that could provide such an alternative. One of them is the Snorter token, created for retail and memecoin traders.
Snorter Token: Trade without leaving the chat
The Snorter Token and Snorter Bot applications create a trading environment built into the Telegram messenger. The premise is simple. The project is intended to allow users to quickly, cheaply, and intuitively explore the world of Memecoins without having to switch between applications or browsers.
For those looking for a path outside the ETH mainstream, Snorter could be an interesting portfolio component.
What does the Snorter token offer?
- Integration with Telegram – the bot works in chat without the need to install additional applications. Connects quickly and conveniently.
- Fast payments and sniping – Bots complete transactions in less than a second using MEV and honeypot fraud-resistant infrastructure.
- Lowest fees on the market – fees are 0.85% for SNORT token holders, standard 1.5%.
- Advanced features – Copy movements of the parent portfolio, dynamic stop loss orders, limit orders, and the ability to preview positions and profits using the /portfolio command.
- Support for various blockchains – Starting with Solana, Ethereum, BNB Chain, Polygon, and Base are planned.
- Security System – The bot automatically detects honeypots and rug pools with over 85% efficiency.
- SNORT token – multi-chain utility token (SOLana’s SPL and Ethereum’s ERC-20) with limited supply (500 million tokens), unlocking premium features, staking and voting in future DAOs.
Why is it worth considering?
As the ETH market falters, projects like Snorter may offer an alternative. Especially if you think ETH may be riskier than usual right now.
However, it should be taken into account that SNORT tokens are not an investment vehicle or shares of a company. This is a tool created for traders who want to take advantage of the technical advantages of the memecoin world.
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