What is $ 1.7 billion? This is less than 1% of the total bitcoin capitalization. This is very little to talk about landfill. Whales took advantage of the situation to enhance the effect of such a coin reset. After these coins find their owner, the price will go up again. It's just one person's savings. Lol. Don't panic and everything will be fine.
I also think the effect of the sale off is exaggreted. It can crash the market jut because there are not many buyers in general.