Believe in somETHing (somETHing), a newly created cryptocurrency, has skyrocketed by over 30% in a pump partly attributed to input from Ethereum (ETH) co-founder Vitalik Buterin.
By press time, somETHing was trading at $0.03214, reflecting a 32.97% increase over the past day. During the same timeframe, the token’s trading volume spiked to $218,600, a notable jump from its typically low activity, with a market capitalization of $1.3 million.
Despite the surge, the token remains highly illiquid, with only 461.2 units traded and no unique traders, buyers, or sellers recorded.
Why somETHing is pumping
The sudden pump is in part linked to an X repost by Buterin of a July 31 post from Marius van der Wijden, a prominent figure in the Ethereum ecosystem. In the post titled “Believe in somΞing,” he shared an introspective message about his journey with the network as it marked its 10th anniversary.
Wijden’s post, which Buterin amplified, reflects on his journey since Ethereum’s inception in 2015. He highlighted his role in the Ethereum Foundation and his contributions to the network’s development, including the successful execution of ‘The Merge’ upgrade in 2022.
Notably, the post’s nostalgic tone and emphasis on Ethereum’s decentralized ethos seem to have resonated with the community, drawing attention to somETHing.
Overall, the lack of sustained trading activity suggests speculative hype around Buterin’s repost drives the pump more than genuine demand.
This phenomenon is not uncommon in the crypto space, where a single endorsement from a high-profile figure like Buterin can trigger notable short-term price movements.
Featured image via Shutterstock
