**[Bankless Co-Founder Sells Off ETH and Buys VVV, NEAR, ZEC, HYPE, LIT]** BlockBeats News, June 3: Bankless co-founder David Hoffman stated that after selling off all his ETH holdings, he immediately allocated approximately 50% of the funds to purchase VVV, NEAR, ZEC, and HYPE. The remaining 50% was kept as cash reserves for gradual dollar-cost averaging, which has now been fully used to buy LIT. On May 21, Bankless co-founder David Hoffman announced that he had sold off all his ETH holdings. He later published an article explaining the reasons behind liquidating his Ethereum spot holdings, emphasizing that the decision was not made on a whim. David stated that the grand narrative of "ETH as money" has not failed but has already been fully priced in and played out to its logical conclusion—Ethereum's network has achieved a valuation that matches its current accomplishments. However, the ETH asset itself is unlikely to be repriced by the market, whether upward or downward. He remains highly optimistic about the Ethereum network, believing that its ecosystem will thrive exceptionally. However, he noted that only a very small portion of this success will continue to be reflected in ETH's price.