Founder Who Sold All His Ethereum (ETH) Holdings in May and Bought Altcoins: His Current Profit-Loss Status Revealed

Bankless co-founder David Hoffman’s decision in May to sell his Ethereum ($ETH) and invest in some altcoins sparked debate within the cryptocurrency community, and the subsequent performance of those assets has now come back into focus.

According to data shared by DeFi researcher Ignas, Hoffman shifted a portion of his portfolio to $LIT, $ZEC, $NEAR, and $VVV tokens after selling $ETH. Compared to levels close to when Hoffman sold $ETH, $LIT and $ZEC, in particular, have shown strong performance.

According to the data, $LIT rose by approximately 369%, while Zcash ($ZEC) increased by about 110%, and $NEAR by approximately 54%. During the same period, Ethereum’s increase was limited to around 8%.

$VVV, one of Hoffman’s preferred assets, performed negatively, losing approximately 6 percent of its value.

Hoffman’s $ETH sale attracted attention in the crypto community at the time due to Bankless’s strong identification with the Ethereum ecosystem.

*This is not investment advice.