{"id":605447,"date":"2026-05-27T06:31:42","date_gmt":"2026-05-27T06:31:42","guid":{"rendered":"https:\/\/Blockchain.News\/news\/david-hoffman-sells-eth-holdings"},"modified":"2026-05-27T06:31:42","modified_gmt":"2026-05-27T06:31:42","slug":"bankless-co-founder-david-hoffman-sells-all-his-eth-holdings","status":"publish","type":"post","link":"https:\/\/e-bitco.in\/index.php\/2026\/05\/27\/bankless-co-founder-david-hoffman-sells-all-his-eth-holdings\/","title":{"rendered":"Bankless Co-Founder David Hoffman Sells All His ETH Holdings"},"content":{"rendered":"
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Felix Pinkston<\/a> May 27, 2026 06:31<\/span> <\/p>\n

David Hoffman, Ethereum advocate and Bankless co-founder, has sold all his ETH, citing diminished upside potential for the token.<\/p>\n

\"Bankless <\/a> <\/figure>\n

David Hoffman, co-founder of the crypto media outlet Bankless and a prominent Ethereum<\/a> advocate, has revealed that he sold his entire Ether (ETH) position. Hoffman announced the decision via an X post<\/a> on May 21, citing a belief that the window for ETH to achieve a significant market repricing has closed.<\/p>\n

\u201cEthereum got the ETH price it deserves, and I don\u2019t see ETH being rerated as an asset, higher or lower,\u201d Hoffman wrote. While remaining optimistic about Ethereum\u2019s future as a blockchain, he no longer sees its native token, ETH, as a primary beneficiary of that success.<\/p>\n

ETH is currently trading at $2,073.32 as of May 27, 2026, down nearly 60% from its all-time high of just under $5,000 reached in late 2021. The token\u2019s price has been rangebound for years, underperforming other major cryptocurrencies during the most recent market cycles.<\/p>\n

\u201cETH Is Money\u201d Thesis Falls Flat<\/h2>\n

Hoffman\u2019s decision marks a symbolic shift, given his long-standing advocacy for the “ETH is Money” narrative. This thesis posits that Ethereum\u2019s native token functions as a superior store of value due to its decentralized nature and inflation-resistant mechanisms introduced after the London hard fork in 2021.<\/p>\n

However, Hoffman now argues that this narrative has “played out” and that ETH has achieved fair market value relative to its utility. He noted that Ethereum\u2019s ecosystem is increasingly designed to distribute value across Layer 2 networks, applications, and other on-chain assets, rather than concentrating it in ETH itself. \u201cEthereum supplies its full set of incredibly important values to the world\u2026 at cost,\u201d he added, underscoring the blockchain\u2019s open-source ethos.<\/p>\n

Market Reaction and Broader Implications<\/h2>\n

The announcement has drawn mixed reactions from the Ethereum community. Ryan Sean Adams, Hoffman\u2019s Bankless co-founder, described the sale as “the end of an era.” Meanwhile, former Ethereum core developer Eric Conner pointed out that ETH has “grossly underperformed the general crypto market for many years now,” attributing the lag to selling pressure from early investors, rather than protocol flaws.<\/p>\n

Hoffman\u2019s move also comes amid broader discussions about Ethereum\u2019s ability to capture value as its ecosystem matures. In 2026, the Ethereum Foundation and other major holders have reportedly been offloading ETH, contributing to downward price pressure and raising questions about long-term valuation.<\/p>\n

Trading Outlook<\/h2>\n

For traders, Hoffman\u2019s exit serves as a cautionary signal that Ethereum\u2019s native token may face limited upside in the near term. ETH\u2019s current market cap of $249.3 billion reflects a mature asset that has likely priced in much of Ethereum\u2019s growth potential. With the blockchain\u2019s innovation increasingly benefiting applications and Layer 2 solutions, ETH holders may need to recalibrate expectations for future returns.<\/p>\n

Despite his sale, Hoffman emphasized that he remains “massively bullish” on Ethereum\u2019s network fundamentals. However, his assessment underscores a growing consensus: Ethereum\u2019s success as a platform doesn\u2019t necessarily translate into exponential gains for its native token.<\/p>\n

Image source: Shutterstock<\/i><\/span> Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Felix Pinkston May 27, 2026 06:31 David Hoffman, Ethereum advocate and Bankless co-founder, has sold all his ETH, citing diminished upside potential for the token. David Hoffman, co-founder of the crypto media outlet Bankless and a prominent Ethereum advocate, has revealed that he sold his entire Ether (ETH) position. Hoffman announced the decision via an […]<\/p>\n","protected":false},"author":1,"featured_media":605448,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12,8],"tags":[504,25344,103,53,25],"class_list":{"0":"post-605447","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-blockchain","8":"category-ethereum","9":"tag-crypto-market","10":"tag-david-hoffman","11":"tag-eth","12":"tag-ethereum","13":"tag-news"},"_links":{"self":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/posts\/605447","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/comments?post=605447"}],"version-history":[{"count":0,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/posts\/605447\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/media\/605448"}],"wp:attachment":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/media?parent=605447"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/categories?post=605447"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/tags?post=605447"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}