The Ethereum Foundation's (EF) historical selling of its Ethereum holdings has long drawn attention for its potential impact on Ethereum's price. However, new insights from CoinGecko shed light on the true effect of these sales.
CoinGecko's New Analysis
CoinGecko's latest study examined correlations between the EF's ETH sell-offs and price changes over different timeframes (3, 7, and 30 days). Findings indicate smaller sales under 9,000 ETH showed no positive correlation with subsequent price drops.
Impact of Small and Large Sales
Meanwhile, larger sales by the Ethereum Foundation, in excess of 15,000 ETH, have mixed effects on price without any clear trend.
Analysts' Conclusions
Analysts advise focusing on broader market factors for Ethereum price analysis.
While the Ethereum Foundation's sales garner public interest, their actual impact on ETH price might be overstated. Research highlights the importance of considering global market conditions for accurate crypto price analysis.
