The Ethereum price is trading near $4,300 after whales unloaded $254M in tokens and network revenue dropped 75%. The question now is whether ETF inflows and treasury demand can push ETH USD back toward $4,500.
Last month was all about Ethereum. No crab jokes or sly comments that ETH is a stablecoin in disguise.
ETH USD hit a record ATH at $4,946 last month, fueled by heavy institutional crypto buying and the rise of Ether-focused treasury companies. Since June, corporate treasuries have accumulated more than 1% of the total supply, solidifying Ethereum’s role as the altcoin of choice for balance sheet allocations. But now that revenue has dried up is that it for ETH? Will September spell disaster?
Ethereum Price In Danger: Should Revenue Collapse Raise Questions For Investors?
The September bear case is mounting for ETH. Network revenue in August was $39.2M, down 75% year-on-year and one of the weakest months since early 2021.
Messari’s analyst AJC argues that Ethereum’s fundamentals are deteriorating: “Ethereum’s fundamentals are collapsing, but the .eths don’t care so long as the price goes up,” AJC wrote.
AJC dismissed metrics like active addresses and Layer-2 growth as “meaningless statistics” unless they generate real user demand.
Offsetting the negative news, however, was the strongest wave of institutional rotation into ETH since ETFs began trading.
CoinGlass data shows Ethereum’s footprint in treasuries expanding fast. The four largest corporate holders, Bitmine, SharpLink Gaming, Bit Digital, and The Ether Machine, now control 2.7 million ETH worth $12Bn.
In Q3 2025, treasury inflows into ETH have surpassed Bitcoin’s, reversing last year’s pattern.
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Ethereum Price Outlook: $4,500 Resistance or $4,200 Breakdown?
ETH is trading at $4,299, holding a consolidation range between $4,200 and $4,600. On the charts, the key marker is resistance at $4,500, and a break there could bring another run at the $4,800–$4,946 zone.
As for support, A drop below $4,200 risks a fall toward $4,078.
If ETF demand continues and treasuries keep accumulating, Ethereum could still reclaim $4,800. However, without new on-chain activity, 99Bitcoins analysts warn, it could be propped up only by external capital.
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Snorter Launches Snout First – Will It Be September’s Best New Memecoin?
While altcoins like YZY and WLFI have been a wet fart in September, memecoins haven’t. Snorter (SNORT) leads the pack, a new token fresh off a $3.5M presale run.
The Solana-based meme trading bot Snorter is moving quickly through presale. Priced at $0.1037, the token has raised $3.83M of its $4.2M target, with less than two days before the next increase. Hype has put Snorter on the front page of crypto presales to scoop up early.
Snorter is a no-frills Telegram sniper bot that lets degens automate trades, copy top wallets, and strike before institutional investors. 99Bitcoins analysts see Telegram utility bots like Snorter as early signals of what might drive the next phase of the bull market.
Thanks to MEV-resistant relayers, it flagged 85% of malicious tokens during testing. This is shaping up to be one of the more fun meme tokens on the rise.
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Key Takeaways
- Ethereum price sits near $4,300 as whales sell $254M and revenue collapses 75%. Can ETF inflows and treasury demand push ETH back to $4,500?
- Under the hood, Snorter runs a custom scanner built to sniff out sketchy contracts before they drain your wallet. It’s part meme, part utility, and fully secured.
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