Hoffman's ETH Exit Leads to LIT Surge, but Not Without Questions

Bankless co-founder David Hoffman sold his Ethereum holdings in May and rotated capital into other cryptocurrencies, including LIT, ZEC, NEAR, and VVV.

Since then, several of these assets have shown significant gains. LIT has surged around 368.75%, making it the strongest performer among the assets highlighted. ZEC gained approximately 110.41%, while NEAR advanced around 54.23% over the same period.

According to Hoffman's original post in May, he sold ETH due to concerns that its market re-rating as global money was unlikely to occur.