Ethereum bull David Hoffman explains why he sold his ETH

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ETH prices have been largely rangebound for five years. Source: TradingView Hoffman, a long-time Ethereum bull who has written extensively on investment cases for Ether, announced selling his entire ETH holdings, the value of which he did not disclose, on May 21. He said that Ethereum is a “giver, not a taker,” providing secure blockspace and tokenization at cost while the blockchain’s layer-2 networks capture most of the fees and benefit. “Ethereum takes no markup for anything it does. This is the nature of open source software, and this is the power of Ethereum. Ethereum supplies its full set of incredibly important values to the world… at cost.” Hoffman reiterated that he is “massively bullish” on Ethereum, expecting that the network will do “exceptionally well from here on out,” but only a “marginal amount” of that success will be reflected in its token. Related: Tom Lee predicts supercycle amid Bitmine’s largest Ethereum buy in 2026 Hoffman’s sale saw mixed reactions from ETH backers, with Bankless co-founder Ryan Sean Adams saying it was the “end of an era.” Former Ethereum core developer Eric Connor said he didn’t really blame Hoffman because ETH has “grossly underperformed the general crypto market for many years now.” He attributed the lag mainly to selling pressure from the large number of millionaires created during its explosive early run-up rather than fundamental protocol shortcomings. “At the end of the day, maximalism to a single coin when it comes to portfolio management is pretty silly,” he said. Magazine: Polymarket seeks Japan entry, Harvard dumps entire ETH position: Hodler’s Digest More on the subject

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