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>>Ex‑Ethereum core developer claims he has dramatically trimmed his ETH holdings.

Ex‑Ethereum core developer claims he has dramatically trimmed his ETH holdings.

crypthub

about 24 hours ago

Developer Reduces ETH Holdings

Eric Connor, a former Ethereum core developer, said on X he has sharply cut his Ether holdings in the last 1‑2 years. He responded to David Hoffman's claim of selling all ETH due to weak price momentum. Connor noted ETH has lagged the broader crypto market and his move reflects portfolio rebalancing, not loss of faith.

Early Investor Selling Pressure

He blames ETH’s stagnation on ongoing profit‑taking by early investors who hold large supplies. Their sales create a price ceiling independent of technical progress. Connor says this market pressure, not a protocol flaw, drives the underperformance.

Implications for Investors

The admission warns against maximalist strategies and underscores diversification. Although he gave no exact figures, his public shift may influence retail perception of risk.

Broader Market Context

Ethereum also faces competition from Solana, Avalanche, and regulatory uncertainty, while Bitcoin attracts store‑of‑value interest. These forces keep ETH’s price modest despite strong fundamentals. Connor’s view adds insider context but not a definitive market forecast.