Ethereum Foundation Sells $30M ETH — What’s the Best Crypto to Buy Now?

In a move that has not been received well by the cryptocurrency community, the Ethereum Foundation has sold $30 million worth of ETH to Sharplink Gaming. In response to this, SharpLink’s stock saw an uptick above $20.

This move coincided with the recent bullish momentum that pushed the ETH price above the $3000 mark, which has further bolstered SharpLink’s gains.

While the Foundation has given a lot of explanation as to why this decision was made, many are thinking of it as a different way of “dumping” Ethereum, which could lead to a major drawback for the ETH price movement. Does that put a stop to the “best crypto to buy now” status of Ethereum?

The Sale Will Fund Foundation’s Core Operations and Funding Activities: Ethereum Foundation

In a lengthy tweet thread shared on X, the Ethereum Foundation gave a detailed justification as to why this move was made.
“This sale funds the EF’s core operations and activities,” wrote the Ethereum Foundation, stating that the money will be used to develop the ecosystem and support more research and development in a bid to make Ethereum stronger.

It also stated that this sale is part of the Ethereum Foundation’s new treasury policy, which involves selling Ethereum over the next three months following a periodical calculation to determine how much the treasury has deviated from fiat-dominated assets from the Opex Buffer.

Needless to say, the community isn’t a fan of this move, with one observer essentially accusing the Foundation of frontrunning. Although the Foundation said that Ethereum is going to diamond hands SharpLink Gaming, community members weren’t convinced.

One user also stated that the Ethereum Foundation should’ve staked ETH instead to fund the Foundation’s expenses, which is a move that could have shown the Foundation’s belief that Ethereum is an asset worthy of holding on to.

Following this announcement, Alex Svanevik, the co-founder and CEO of blockchain analytics company Nansen, said on X that it is a good way to fix Ethereum dumping.

While the move has drawn a fair bit of criticism, it is important to note that SharpLink Gaming is being helmed by Joseph Lubin, the co-founder of Ethereum, which means there is a possibility that there won’t be much of a negative impact on the market in the long run.

Ethereum Price Analysis Post Sell-Off

As expected, eyes were on the market shortly after this move was announced. And from what could be analyzed, it has had little to no impact on Ethereum’s price.

There is only a minor correction in the Ethereum price after it peaked above the $3K mark. Bulls are strong, and hope remains for Ethereum to experience further upsides.

Now Ethereum’s next big jump could be $4K, but that will require the altcoin to cross resistance at $3.8K (0.236 fibs), which requires a pump of 27%.

It is possible, especially if the macros continue to be bullish. That being said, the Ethereum Foundation’s recent sell-off does set a tone of what the main ETH body is thinking. Innovations aside, the community is seeing the act of selling as a betrayal. It sends a message to investors that the Foundation itself doesn’t trust ETH much. If such moves continue, investor confidence can plummet, leading to the reversal of the current bullish pattern.

So, while this event doesn’t necessarily put a stop to Ethereum’s “best crypto to buy now” status, it does create an ecosystem where exercising caution is a must. Therefore, investors must also load up on other altcoins in order to hedge market risks.

Best Crypto to Buy Now – Top 3 Picks Besides Ethereum

Ethereum’s price action has been undeterred by the latest sell-off by the Ethereum Foundation. However, it has made investors uneasy, which is making them wonder what happens if the Foundation continues its ETH selling approach and the other party isn’t the “diamond buyer” that SharpLink is. To help those investors be at ease, here are other picks that smart investors can consider.

Bitcoin Hyper

Bitcoin Hyper is a good pick for those who want to tap into Bitcoin’s speculative nature while also riding the wave of Ethereum’s utility. Bitcoin Hyper is a project built on the Solana blockchain, trying to inject utility into the Bitcoin network.

According to the project’s official whitepaper, Bitcoin Hyper aims to accomplish this by implementing L2 scaling solutions to the primary Bitcoin network. Through this approach, Bitcoin could become more scalable and faster. At the same time, it could host decentralized applications.

Other than this utility, Bitcoin Hyper is also portrayed as a meme coin. It features imagery of a Pepe dressed in a superhero outfit, which is possibly being used to highlight the project’s aim to make Bitcoin more efficient and scalable.

The mix of utility and memes makes Bitcoin Hyper a uniquely positioned project among its peers. Furthermore, the text in the whitepaper shows that the developers aren’t just claiming to provide use cases but have the technical know-how to accomplish them.

Experts like Lenny Crypto have shown appreciation for this project. While covering the token in one of their latest reviews, Lenny talked about how it could have a 10x potential as a utility-focused meme coin.

Snorter

Ethereum’s rise has also given way to projects like Solana to grow, and that could have a trickle-down impact on Snorter. Snorter is a new crypto in presale that powers a Telegram-based trading bot, which lets investors find and invest in Solana-based tokens.

In essence, it is an automated crypto sniping tool that allows investors to keep tabs on and invest in Solana-based meme coins just as they emerge on the market. This project effectively offers investors a way to access early-stage Solana meme coins, which have often yielded significant returns for early movers.

Security tools also lie at the center of this project, with features such as honeypot protection, rug pull protection, and more available for investors. And since the entire ecosystem is active on Telegram, users will also have access to copy trading opportunities.

Beyond the use cases, however, Snorter has also generated buzz within the cryptocurrency community by focusing on a unique animal — the aardvark. The memes that the devs are creating using this animal are iconic, giving Snorter massive potential to generate short-term, parabolic gains.

Melos Crypto is one of the many investors that have recently covered the project and has even called it one of the best meme coins on the market. Since it has already raised over $1.7 million, Snorter is on track to becoming one of the most successful crypto ICOs of 2025.

Token6900

The entire conversation around Ethereum being sold by the Ethereum Foundation to another company, and the reaction of the community, shows how important sentiments are in determining the price action of an asset. Token6900 taps into that essence, letting go of the need to promote any long-term utility and riding the wave of memes exclusively to gain prominence in the cryptocurrency market.

Designed to be an ode to SPX6900, Token6900 doesn’t put too much weight into originality. Its website is similar to SPX6900’s, complete with an old-style web browser that reminds people of Windows 95, and memes that focus on the current financial ecosystem.

There is not one core narrative the project is following; it is all very incoherent, showcasing a modern-art style of memes where AI is being used to create nonsensical and comedic posts with not much weight.

But it is that lack of focus that gives Token6900 its degen appeal. Being purely a speculative asset, this project does not pretend, and its tokenomics is very mysterious. With its presale hard-capped at $5 million, Token6900 has already raised over $350,000.

This shows that the community is interested in what Token6900 has to offer, and it is not about utility, which makes it a strong pick for investors looking for massive gains in little time.

Summary

There has been an air of nervousness ever since the Ethereum Foundation made the move to sell 10,000 ETH to SharpLink Gaming. While the Foundation has given proper justification for this move on X, most investors remain apprehensive. Although the impact of this move has not yet been reflected on the Ethereum price chart, people are growing cautious.

Therefore, those still looking for the best crypto to buy now besides Ethereum should consider assets with slightly bigger upsides and viral potential. This guide has covered most of them, and they are easy to invest in.

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