{"id":908552,"date":"2026-05-27T10:12:24","date_gmt":"2026-05-27T15:12:24","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2026\/05\/27\/why-i-sold-my-eth-david-hoffman\/"},"modified":"2026-05-27T10:12:24","modified_gmt":"2026-05-27T15:12:24","slug":"why-i-sold-my-eth-david-hoffman","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2026\/05\/27\/why-i-sold-my-eth-david-hoffman\/","title":{"rendered":"Why I Sold My ETH, David Hoffman"},"content":{"rendered":"
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Popular Crypto Investor & Bankless Co-founder David Hoffman revealed that he sold his Ethereum holdings, despite spending years building his career and identity around Ethereum.<\/p>\n

But unlike many bearish calls flooding crypto markets lately, Hoffman explains his reasons behind Ethereum\u2019s selling.\u00a0<\/p>\n

Reason Behind David Hoffman\u2019s ETH Selling<\/h2>\n

In a recent post on X<\/a>, Hoffman said the popular \u201cETH is Money\u201d idea has mostly already happened, but not in the explosive way any Ethereum supporters once hoped for.<\/p>\n

According to him, Ethereum succeeded technically, but the market no longer appears willing to aggressively \u201crerate\u201d ETH higher as a monetary asset. He said that Ethereum chose the hardest possible path in crypto by prioritizing open ecosystems, decentralization, Layer-2 scaling, and public infrastructure instead of maximizing direct value capture for ETH holders.<\/p>\n

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That design helped Ethereum become the foundation for stablecoins, DeFi, tokenization, and Layer-2 networks, but it also allowed much of the economic value to flow toward apps, rollups, and external assets rather than ETH itself.<\/p>\n

Ethereum\u2019s Success May Be Helping Everyone Else<\/h2>\n

One of Hoffman\u2019s biggest concerns involves stablecoins. Ethereum currently hosts around $163 billion in stablecoins, up massively from just $3 billion in 2020.<\/p>\n

However, Hoffman believes Ethereum\u2019s infrastructure growth is increasingly strengthening assets like the U.S. dollar instead of strengthening ETH as money.<\/p>\n

He described Ethereum as \u201ca giver, not a taker,\u201d arguing that the network intentionally provides low-cost infrastructure to the entire crypto economy without aggressively extracting value back into ETH.<\/p>\n

Solana, NEAR, and Revenue Chains Changed the Market<\/h2>\n

Further into the explanation, Hoffman also pointed toward the rise of competing ecosystems like Solana and NEAR Protocol, where token prices became more closely tied to revenue growth and blockchain activity.<\/p>\n

He noted that in 2024, Solana gained dominance as its Layer-1 revenue surged, while NEAR\u2019s 2026 rerating has also closely tracked rising blockchain fees and token burn activity.<\/p>\n

That shift, according to Hoffman, changed how markets value smart contract platforms.<\/p>\n

Is Hoffman Bearish on Ethereum?<\/h2>\n

Surprisingly, no. Hoffman repeatedly said he remains \u201cmassively bullish\u201d on Ethereum as a network and believes its ecosystem, apps, and Layer-2 infrastructure will continue growing strongly.<\/p>\n

His concern is mainly around ETH\u2019s ability to structurally outperform from current levels.<\/p>\n

As of now, the Ethereum price is trading around $2073, reflecting a drop of neally 60% from its ATH of $4973.<\/p>\n<\/div>\n

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