Ethereum News Today: Meme Coin Mania and Ethereum Optimism Fuel Altcoin Surge Amid Broader Crypto Slump

The crypto market's recent turbulence has left many investors bracing for losses, but a select group of altcoins is defying the downturn. Despite a broader sell-off that saw Bitcoin and Ethereum dip sharply amid U.S.-China trade tensionsEthereum Price Prediction October 2025: ETH Targets $4,300 as …^[5], three projects-Useless Coin, Mantle, and Ethereum-have emerged as unexpected contenders to break records in the third week of October.

Useless Coin, a satirical token created as a joke, has surged over 90% in seven days, vaulting to the top of meme coin rankingsUseless Coin Price Prediction: Can It Break Its Previous ATH After a 90% Weekly Surge^[1]. Its 24-hour trading volume now exceeds Pepe and Dogwifhat, with on-chain activity surpassing $FARTCOIN and $WIF combinedUseless Coin Price Prediction: Can It Break Its Previous ATH After a 90% Weekly Surge^[1]. Much of the momentum stems from whale activity: a single wallet acquired $752,460 worth of $USELESS in two hours, signaling fresh capital inflowsUseless Coin Price Prediction: Can It Break Its Previous ATH After a 90% Weekly Surge^[1]. Technical analysts note that $USELESS has nearly reclaimed its prior all-time high and is in the early stages of an Elliott Wave pattern's impulsive third legUseless Coin Price Prediction: Can It Break Its Previous ATH After a 90% Weekly Surge^[1].

While the token's lack of utility raises sustainability concerns, its rapid ascent highlights meme coins' role as "risk-on" assets in a recovering market. "Meme coins often act as barometers for retail sentiment," said Bluntz_Capital, a crypto analyst. "If $USELESS holds above $0.364, it could retest $0.444 in the coming daysUseless Coin Price Prediction: Can It Break Its Previous ATH After a 90% Weekly Surge^[1]."

Mantle, a layer-2 scaling solution, trades at $2.15, just 33% below its all-time high of $2.873 Altcoins That Could Hit All-Time Highs In Third Week of October^[2]. The token has benefited from renewed interest in Ethereum's ecosystem, particularly as spot ETF inflows push institutional demand. Mantle's deflationary mechanics and focus on enterprise blockchain adoption position it as a long-term play.

"If MNT flips $2.29 resistance into support, it could rally to $2.87," said BeInCrypto analysts, noting that a breakdown below $1.92 would invalidate the bullish case3 Altcoins That Could Hit All-Time Highs In Third Week of October^[2]. The token's recent 32% gain in 24 hours underscores its volatility but also its potential in a market eager for yield-driven opportunities.

Ethereum, the second-largest cryptocurrency by market cap, has also bucked the trend. After a 7% drop following Trump's tariff threatsEthereum Price Prediction October 2025: ETH Targets $4,300 as …^[5], ETH rebounded to trade near $4,162, hovering just below $4,222 resistance3 Altcoins That Could Hit All-Time Highs In Third Week of October^[2]. The Ichimoku Cloud and 50-day EMA suggest short-term bullish momentum.

Analysts at Blockchain.News predict ETH could test $5,200–$5,500 by mid-October if it breaks above $4,956.78. This optimism is fueled by record ETF inflows, with spot ETH ETFs attracting $80 million in three days. "Ethereum's role in DeFi and tokenization makes it a natural beneficiary of institutional adoption," said a CoinCentral analyst.

The altcoin rally contrasts with Bitcoin's 1.4% dip to $121,305Ethereum (ETH) Price News: Plunges 7% as Crypto Carnage^[4], as traders rotate into perceived safe havens like ZcashEthereum (ETH) Price News: Plunges 7% as Crypto Carnage^[4]. However, the sustainability of these gains remains uncertain. Ethereum's circulating supply has risen due to weak burn rates, while ETH ETF outflows of $389 million in October signal waning institutional confidence.

For Useless Coin, the absence of utility could lead to a sharp correction once hype fades. Mantle and Ethereum face more structural challenges, including regulatory uncertainty and macroeconomic headwinds.

As October unfolds, these three altcoins exemplify the crypto market's duality-where meme tokens thrive on sentiment and utility-driven projects gain traction amid ETF optimism. While risks persist, the current technical and institutional tailwinds suggest these coins could yet redefine their all-time highs.