October is often perceived as a favorable month for the crypto market. However, this year, altcoins suffered a major earthquake. The Ethereum founder shocked the crypto market after a massive ETH sale.
Currently, Ethereum has failed to regain its previous upward momentum, and a sudden sale by one of the network’s founders has caused a wave of speculation among investors.
Vitalik Buterin big sale
ETH price movement is gaining downward momentum, and it appears that selling is increasing simultaneously on both the retail and institutional sides. Ethereum co-founder Vitalik Buterin also joined the wave of selling, liquidating a significant amount of his tokens in one day.
Buterin has been sold, according to a post on X shared by cryptocurrency enthusiast and DeFi researcher OxNobler. 160,000 Ethereum in about USD 650 million. After this significant drop, Ethereum’s founder sounded the alarm on the market.
A large sell-off like this usually raises a number of questions, such as what was the motivation for such a move and what impact could it have on the further price of ETH.
Given the overall market volatility and volatile investor attitudes, this appears to be a particularly critical time for the big chains.
Does this move reflect strategic portfolio management, market caution, or a sign of a change in sentiment within Ethereum leadership? There is no clear answer for now, but this drop adds new uncertainty to the ETH market trend.
Ethereum’s strategic reserves are decreasing
The Ethereum Foundation’s strategic ETH reserves have also been consistently decreasing. This indicates that organizations may be changing the way they manage their assets and financial strategies.
On Tuesday, on-chain data shows the foundation sold 2,400 ETH worth about $9.3 million, which is about 0.18% of the altcoin’s total supply.
Over the past five months, 45,000 ETH have been sold, valued at approximately USD 175 million. In May of this year, reserves were 265,400 ETH, and now 220,350 ETH, or over 45,000 units, have been liquidated.
At the time of writing, the price of ETH was hovering around $3,867. Despite the negative price movements, investors showed positive sentiment towards ETH, with trading volume increasing by over 31% during this period.
What does this mean for the market and your wallet?
If one of the founders of the chain decides to sell in bulk, two extreme interpretations arise.
- On the one hand, it may be routine asset management (e.g. selling part of your capital for diversification purposes).
- On the one hand, it could indicate that there are changes in the game that investors should consider.
This does not automatically mean that Ethereum’s long-term theory is failing, but the warning signals are clear.
Ethereum may still be one of the best cryptocurrencies to invest in, but the current situation shows that even large projects are not immune to sudden changes in sentiment or the activities of big players.
How do new cryptocurrencies compare in this context and where should we find advantages?
In the face of such shocks in the ETH market, many investors’ attention has focused on lower capitalization projects, often referred to as new cryptocurrencies. While this segment may contain potential, it also carries a high level of risk.
It is worth considering projects that could provide such an alternative. One of them is the Snorter token, created for retailers and memecoin traders.
Snorter Token: trade without leaving the chat
The Snorter Token and Snorter Bot applications create a trading environment embedded in the Telegram messenger. The premise is simple. This project aims to allow users to navigate the world of meme coins quickly, cheaply, and intuitively without switching applications or browsers.
For those looking for an avenue outside the mainstream ETH, Snorter could be an interesting portfolio component.
What does the Snorter token provide?
- Integration with Telegram – The bot works within chats and there is no need to install any additional applications. Connect quickly and conveniently.
- Express payments and sniping – Bots complete transactions in less than a second using infrastructure that is resistant to MEV and honeypot fraud.
- Lowest fees on the market – SNORT token holders only pay 0.85% fees, standard is 1.5%.
- Advanced features – copy top portfolio movements, dynamic stop-loss orders, limit orders, plus the ability to preview positions and profits using the /portfolio command.
- Support for multiple blockchains – starting with Solana, with Ethereum, BNB Chain, Polygon, and Base planned.
- Security System – The bot automatically detects honeypots and lag pulls with over 85% effectiveness.
- SNORT Token – Limited supply (500 million tokens), multi-chain utility token (Solana’s SPL and Ethereum’s ERC-20), unlocks premium features, staking and future DAO voting.
Why is it worth considering?
With the ETH market volatile, projects like Snorter may offer an alternative, especially if ETH seems riskier than usual today.
However, it is important to consider that SNORT tokens are not investment products or company shares. This is a tool created for traders who want to take advantage of technological advantages in the world of meme coins.
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