David Hoffman, co-founder of Bankless, revealed he sold his Ethereum (ETH) holdings because the 'ETH is Money' thesis has ended. He remains optimistic about Ethereum's network but believes the ETH token failed to capture enough value as the ecosystem prioritized utility, decentralization, and Layer-2 solutions over maximizing ETH's monetary premium. Stablecoins on Ethereum also shifted demand away from ETH itself, making Ethereum more of an infrastructure for other assets rather than a dominant monetary asset. This shift has led Hoffman to a neutral stance on ETH as an investment despite his positive view of the network's growth and adoption.
The crypto market continued its decline with total capitalization dropping 1.5% to $2.53 trillion and Bitcoin falling nearly 3% to around $75,000. This selloff is driven by macroeconomic uncertainty, significant outflows from Bitcoin and Ethereum ETF...
Bitcoin dropped to $75,498 during Asian trading, diverging from the global stock market's record highs. Major cryptocurrencies like XRP, Ethereum, and Solana fell nearly 1%, while Zcash saw a sharp 9% decline. Bitcoin is near its 50-day moving averag...
Last week, digital asset investment products experienced $1.47 billion in outflows, marking the third-largest weekly outflow of 2026 and signaling a negative trend for May. The United States led with $1.425 billion in withdrawals, while other countri...
Bitcoin traded at $75,856 after a slight 1.01% decline, with on-chain data showing cautious whale wallet behavior and balanced exchange flows, indicating no strong buying or selling pressure. Miner activity remains steady, and the price pullback sugg...
Bitcoin dropped nearly 2% below $77,000 following escalated US military actions against Iran, disrupting a near-peace deal and increasing geopolitical risks. Institutional investors withdrew $105 million from US spot Bitcoin ETFs, marking a sixth con...
