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 5 months, 8 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 all alone."
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 wallets quietly increased their 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 the foundation people flee, while institutions buy madly?
Because what institutions are looking at isn’t really the "executive list," they focus on on-chain data, staking yields, Layer 2 activity, and spot ETF expectations.
Will the comings and goings of EF people affect Uniswap’s daily trading volume? Will it impact user growth on Base chain? Will it influence BlackRock’s application progress?
No. Not a single one.
In fact, when people leave, rumors of "internal disagreements" actually show that Ethereum has grown so large 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 movement."
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 taking losses, while institutions calmly scoop up bloodied chips.
When ETH dropped below 1,700, a whale sold 11,888 ETH at an average price of 1,706 (worth $20.28 million). Retail whales are cutting losses, institutions are buying up.
In this round, has the ETH/BTC exchange rate bottomed out?
If institutions continue to accumulate and ETF narratives start to heat up—ETH outperforming BTC might not just be a week-long thing, but the main theme for the entire second half of the year.
"When the founding team begins to 'decentralize,' that’s the most centralized moment for a decentralized project—price rules, not people."