Bankless Co-Founder's Ethereum Exit Yields Massive Returns as Market Focus Shifts

David Hoffman, co-founder of Bankless and Ethereum enthusiast, made headlines by selling his entire ETH position in late May. Three months later, he emerged as one of the biggest winners in the market.

Hoffman disclosed that he had rotated his funds into five assets: VVV (Venice AI governance token), NEAR, ZEC, HYPE, and LIT (Lighter on-chain perpetual futures exchange). He allocated 50% of his capital to these assets immediately after selling ETH, while keeping the remaining 50% for dollar-cost averaging purposes.

The most significant gain came from LIT, which rose by 135%-210% from its entry price. Hoffman's logic in buying LIT was based on the exchange's buyback speed, transparency premium provided by zk verification, and user migration potential driven by lower fees.

NEAR also performed well, with a 69% return. Notably, NEAR Intents' current role as a 'toll booth' in the ZEC rally created an implicit positive feedback loop between the two assets.