EOS sold almost all the ETH gathered during the year long ICO period

While the EOS crowdsale  now shows 0 ETH, the EOS owner address now shows a balance of 100,645 ETH left out of 3.4 million ETH raised during their ICO. Only in June the address has moved out over 1.2 million ETH. While EOS tends to send ETH through multiple intermediary addresses, the ETH was moved to different exchanges, mainly Bitfinex.

The problem of EOS owning a huge amount of ETH has been raised in the last few months by a lot of concerned crypto enthusiasts, as EOS could easily dump ETH, thus influencing its price.

As the EOS influence over the price of ETH is obvious, we cannot measure exactly how big of an impact it had, especially during this period, when the market is overall bearish. Also, even if the ETH was moved to exchanges, we yet do not know if it was actually sold or just moved.