Altcoin Season Already Here? Hoffman Says It Came Faster Than Expected

Bankless co-founder David Hoffman asserts that the altcoin season has already started. However, this claim is based on the relative performance of his personal portfolio rather than broader market indicators. On May 18, Hoffman posted on X: "We're already in the altcoin season, and the real moment of the market came sooner than expected." Blockbeat reported that Hoffman sold all his Ethereum (ETH) holdings on May 21 before buying VVV, NEAR, ZEC, HYPE, and LIT. He later explained that all five assets he purchased have significantly outperformed Ethereum since then. This statement focuses on the performance difference between his selected assets and Ethereum after his trades, rather than overall altcoin market capitalization or price trends. The altcoin season refers to a period when non-Ethereum and non-Bitcoin cryptocurrencies outperform the broader market. Earlier coverage noted that the altcoin season index has not yet met its benchmark, making it difficult to conclude a general market rotation based on isolated asset rebounds. Hoffman's comments alone do not indicate that the entire altcoin market is entering a bullish phase; overall market trends require analysis of the altcoin season index, trading volume, and individual asset price movements.