A widely discussed viewpoint is that whenever the Ethereum Foundation sells ETH, the market tends to experience a sharp decline, and this phenomenon is seen as a clear signal of a market top. To address this, I have created a detailed analysis table, and the results show that the situation is not as exaggerated as many claim. Frankly speaking, the sale of 100 ETH by the Foundation is quite insignificant in the overall market. More importantly, there are many trading activities that the public is not aware of, where the Ethereum Foundation trades a large amount of ETH through OTC (over-the-counter) transactions.
For example, in August 2024, the Ethereum Foundation quietly sold as much as 35,000 ETH through OTC methods. This operational approach is relatively discreet, making it difficult for ordinary investors to directly see the full picture, but its core purpose remains to raise funds while minimizing the direct impact and negative effects on the market as much as possible.
Additionally, we must also note a fact: the amount of ETH currently held by the Ethereum Foundation accounts for only a tiny proportion of the total ETH supply, specifically 0.26%. Therefore, even if they sell, the direct impact on market liquidity is relatively limited. In light of this, investors may not need to overreact or pay excessive attention to the selling behavior of the Ethereum Foundation.