ETH is in a "big escape" internally, but institutions are "buying aggressively"—who's wrong?

The foundation people run faster than rabbits, but institutions buy more fiercely than anyone.

In five months, eight senior executives have left.

The joint executive director left, the former joint executive director also left, and the core R&D team is losing members at a rate comparable to the 2018 bear market.

On social media, ETHers' panic spreads like a virus: "Ethereum is doomed," "The foundation has disbanded," "V God is孤家寡人."

And the result?

ETH has gained +5.1% this week, while Bitcoin is down -1.5% in the same period.

What are institutions doing? Hayes' related wallet quietly increased its ETH holdings to 4,400 ETH, BitMine spent $35.85 million to buy 20k ETH, still short of the 5% target position—that means they still need to buy more.

"Retail investors watch Twitter for panic, institutions watch on-chain for chips—everyone sees the same chain but perceives two different worlds."

—Why do foundations flee while institutions buy aggressively?

Because what institutions are looking at isn't the "executive list," they focus on on-chain data, staking yields, Layer 2 activity, and spot ETF expectations.

Will EF people coming and going affect Uniswap's daily trading volume? Will it impact user growth on Base chain? Will it influence BlackRock's application process?

No. Not a single one.

In fact, when people leave, rumors of "internal disagreements" just show that Ethereum has grown so big that it no longer needs "one person to decide"—decentralization means even the team must decentralize.

"Whether EF people leave or not has never been causally related to ETH's price increase."

In 2018, Vitalik said "Ethereum might fail," but what happened? In the 2021 bull market, ETH rose from 100 to 4,800.

Core developers left, but the code kept running. The founder was bearish, but the ecosystem continued to grow.

What should you be worried about?

What you should really worry about is retail investors panic-selling and exiting, while institutions calmly scoop up bloodied chips.

When ETH broke below 1,700, a whale sold 11,888 ETH at an average price of 1,706 (about $20.28 million). Retail whales are cutting losses, institutions are buying up.

In this round, has the ETH/BTC exchange rate bottomed?

If institutions continue to increase holdings and ETF narratives start to ferment—ETH outperforming BTC might not be just a one-week event, but the main theme for the entire second half of the year.

"When the founding team begins to 'decentralize,' that is the most centralized moment of a decentralized project—price rules, not people."

$ETH $BTC #沃什首秀美联储利率不变 #Gate现货交易量增幅全球第一 #Gate现货交易量增幅全球第一