Wavan.eth

Ethereum has been underperforming compared to the major cryptocurrencies lately. It is lagging behind both Bitcoin and Solana. The Ethereum Foundation is once again unstaking ETH. Over the past two weeks, they have unstaked nearly $99 million (17,000 ETH at the end of April and another 21,271 ETH yesterday). As I’ve said before: I believe in Ethereum’s technical foundation, but I absolutely do not accept the @ethereumfndn marketing and operational decisions. Their constant opaque selling is causing enormous reputational damage to the network. - January 2018: historic dump of 480k ETH - May 2021: 35k ETH at the local top - August 2024: 35k ETH (right after which the price dropped from $2,750 to $2,150) - And now, May 2026: almost 40k ETH in total ready to be sold. They sold on local highs, but then the price rose globally. Witnesses of the "unstaking is not selling" sect can keep calming themselves. Technically it’s true, but historically, the time between withdrawal from the node and selling on the market is at most a few weeks. The EF doesn’t withdraw ETH just to stare at it. It’s clear that the EF needs money for grants and salaries. But the problem isn’t the sales themselves - it’s the approach. The treasury now holds just over 100,000 ETH (the balance has shrunk by 60% in the last 8 months). The lack of a clear, pre-announced sales schedule forces the market to price in this risk preemptively. Every such on-chain surprise looks like a shitcoin-founder dump and scares away serious capital. And another question: at this rate of selling, they have a maximum of one year left. What will the EF do after that? How will they finance themselves? Why can’t you sell above $4,000, then hold stablecoins and earn yield on staking? Or sell using DCA above a certain price level? Why sell at such low prices? I'm bullish on ethereum:native , and I keep most of my capital in ethereum:native . But it hurts to see everything that's happening! You can’t build global financial infrastructure while managing the corporate treasury like amateurs. It’s time for the EF to grow up. #Ethereum #ETH #DeFi