Major Ethereum reserve companies have faced challenges in their strategy shifts as market fluctuations impact growth. After an initial surge driven by accumulation in June, recent selling activities by both major holders and firms themselves highlight the volatility of the cryptocurrency market. 10,922 ETH was liquidated by FG Nexus to finance share repurchases, shrinking their holdings from 50,770 ETH to 40,005 ETH – a significant drop of 20%. This trend suggests a shift towards more risk-averse strategies in response to market weakness and potential economic downturns. While recent positive indicators, such as interest rate adjustments and U.S. market optimism, offer potential relief, the impact of these changes on reserve companies remains to be seen.