LIT Surges 272% After Hoffman Sells ETH and Shifts to Five Altcoins

Bankless co-founder David Hoffman sold all his Ethereum (ETH) holdings before reallocating to five altcoins, which outperformed ETH in price gains over the same period. On May 21, Hoffman liquidated his ETH and distributed funds to VVV, NEAR Protocol, ZEC, Hyperliquid (HYPE), and LIT. Blockbits compared Hoffman's disclosed entry prices with HTX market data as of September 18.

Hoffman's entry prices were approximately $1.40 for NEAR Protocol, $45 for Hyperliquid, $560 for ZEC, and $1.35 for LIT, while VVV's exact purchase price was not disclosed. By September 18, HTX reported LIT at $5.02, a 272% increase from Hoffman's entry point. ZEC rose to $1,512.42 (up 170%), NEAR Protocol reached $3.49 (up 149%), and Hyperliquid climbed to $86.51 (up 92%). VVV was calculated using its May 21 price of $15.99, rising to $25.27 for a 58% gain.

ETH rose from approximately $2,127.47 to $2,473.23 during the period, a 16% increase. The comparison reflects Hoffman's portfolio shift from ETH to altcoins, though individual asset performance may vary based on entry and reference dates.