For example: GrayScale bought 1M AVAX when 1 AVAX = $10. Buying action and market greed pushed the AVAX token price up and 1 AVAX = $100. Then, to take profit, GrayScale sold all 1M AVAX they had. According to symmetry theory, the selling action and market fear will push the AVAX token price down and 1 AVAX = $10 as at the beginning. Buy 1M tokens + sell 1M tokens = no impact and price stands still. We have a Zero-sum game.
However, a uptrending market doesn't work like that. When optimism takes over the market, despite the same reasons and events, greed has a greater impact than fear, and even though GrayScale sells 1M AVAX, the AVAX token price only drops to $60 instead of the original $10. Now Buy 1M tokens + sell 1M tokens = increase the price by $50 per AVAX token.
Ahhhhh, I see, this Zero-Sum Game discussion about Avalanche is starting to be understood a little.
*When Grayscale buys more AVAX Coins at 10 USD and sells them at 100 USD but no Dump occurs, this is called a "Zero-Sum Game", right?
*But if AVAX drops to 60 USD shortly after Grescale sells it, that's not a "Zero-Sum Game" because there is an effect of reducing the price of AVAX coins worth 40 USD, that's what it means, right?
And the influence of Grayscale when selling AVAX coins with such a large supply of value will definitely have a negative effect on all markets, the effect is a negative effect that causes the price of AVAX coins to "Dump", right?