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