- Famous эфириум-maximalist David Hoffman sold all his ETH.
- He believes that the Altcoyin failed to become established as money.
Co-founder of the influential media platform Bankless and one of the most famous maximalists Ethereum David Hoffman officially announced about completely liquidating their ETH. For a community accustomed to seeing Hoffman as an uncompromising defender of the ecosystem, this came as an unpleasant surprise.
Hoffman stressed, that his decision wasn’t driven by short-term exchange rate fluctuations or a loss of faith in smart contract technology. The point is that he no longer considers ETH money.
The collapse of a long-standing theory
The concept of “ETH is money” was based on the assumption that Ethereum could create a cost-effective and deflationary asset, which would compel institutional investors to invest in it. The unique fee-burning mechanism, among other things, should have made ETH an excellent global store of value.
This scenario, Hoffman noted, required the convergence of many variables, but ultimately it ran into a harsh reality. First, the value of Ethereum’s layer-one asset was tied to the network’s revenues. Second, the utility Ethereum how the global computer began to benefit other assets, in particular stablecoins, which have become de facto real “money” for users in the real world.
In the current macroeconomic and technical environment, the battle to establish ETH as the primary global internet monetary system appears to be over.
Closely monitoring the development of the ecosystem Ethereum Since the early days of its transition to Proof-of-Stake, I’ve often observed excessive optimism among its supporters. David Hoffman’s move isn’t just a standard asset rebalancing; it’s a public acknowledgement of institutional impasse regarding the project’s strategy, according to an editorial staff member. Happy Coin News Valery Smal.
According to the journalist, the main problem is the fragmentation of liquidity. Editorial Happy Coin News has repeatedly reported on the spread of second-level networks, including Arbitum, Optimism and Base, successfully reduced transaction costs for end users, but simultaneously deprived the first tier of vital fee revenue. Ethereum has transformed from a unified economic space into a fragmented infrastructure platform. For developers, this is a technical victory, but for investors who expected exponential token price growth driven by deflationary tokenomics, it’s a worrying development.
A New Era for Bankless and Ethereum
Hoffman’s decision coincided with a larger reorganization within the Bankless media empire itself. The company recently underwent a significant restructuring, including layoffs. Co-founder Ryan Sean Adams stepped away from day-to-day management and assumed a passive role as co-owner. As a result, Hoffman single-handedly determined the company’s strategy and editorial policy.
Bankless’s six-year project dedicated to Vitalik Buterin’s ecosystem is nearing completion. The media platform plans to expand its coverage beyond Ethereumto stay flexible and relevant.
Along with this, Hoffman assured the community that Ethereum remains the greatest blockchain and a powerful economic engine.
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