Very small in scale, not very harmful, but very insulting

Let's talk about the Ethereum Foundation selling coins. Every time $ETH drops, the Ethereum Foundation seems to sell coins in advance, which leads to everyone criticizing Vitalik Buterin. Setting aside emotional responses, let's look at the specific data analysis.
The Ethereum Foundation has indeed sold a portion of ETH, but the scale is not large, and its direct impact on the market is limited. They mostly handle large transactions through OTC (over-the-counter) trades. For example, in August 2024, they sold 35,000 ETH off-market, which helps reduce market volatility and minimizes significant impacts on the market. From this perspective, it seems quite reasonable.

The ETH held by the Ethereum Foundation accounts for only 0.26% of the total supply, so their selling actions have little effect on overall liquidity. In fact, significant market fluctuations are likely driven by other whales and market makers.

Another possibility is that such selling behavior is intentional, aimed at drawing attention and creating panic to achieve a washout effect. In this case, there may be certain interests behind the scenes. Additionally, they often sell ETH through specific addresses in small, frequent transactions, indicating that similar operations may continue. Although the scale is not large each time, it often amplifies effects in market sentiment. Everyone believes the Ethereum Foundation is a master of selling at the top; thus, selling 100 #ETH each time triggers a follow-the-leader and panic effect. Of course, I conspiracy theorist believe this behavior is intentionally coordinated with market makers for a washout, and from this perspective, the Ethereum Foundation certainly deserves criticism!