Key Points:
Hoffman has exited his ETH holdings.
He stated, "Ethereum has achieved the ETH price it deserves, and I don't believe ETH will be reassessed as a higher or lower asset."
He added that Ethereum has performed well and deserves its current market capitalization, but the window for the market to reassess the token seems to be closing.
Why is Hoffman's Sale Important?
Hoffman emphasized that his exit does not signify a denial of the network itself. He remains "extremely optimistic" about Ethereum and anticipates its strong performance, noting that only a small portion of success will flow into the token.
Connor believes that this lag is primarily due to the selling pressure from numerous millionaires created during Ethereum's early market, rather than flaws in the protocol itself.
Ethereum first reached nearly $5,000 in August, matching the peak of the previous cycle. Since then, the token has declined by about 57%, currently trading near $2,070, with supporters discussing whether its poor performance reflects market structure or deeper limitations of the asset itself.