Former Ethereum core dev says he also cut his ETH holdings

Former Ethereum (ETH) core developer Eric Connor announced on X that he has significantly reduced his ETH holdings over the past one to two years. His statement was a response to a post by David Hoffman, a host at the crypto podcast platform Bankless, who said he had sold all his ETH due to a lack of upward momentum. Connor noted that ETH has severely underperformed the broader crypto market for years and that the assets he acquired in its place have all significantly outperformed ETH's returns. However, he clarified that he does not believe ETH's poor performance is due to a fundamental flaw. Instead, he attributed it to long-term profit-taking pressure from early investors who amassed great wealth during ETH's initial rise. He added that maximalism on a single asset is foolish and that the market does not lie.