Bankless co-founder David Hoffman rotates ETH sale proceeds into VVV, NEAR, ZEC, HYPE and LIT
After fully exiting ETH, Hoffman said he deployed roughly half into VVV, NEAR, ZEC and HYPE and later completed the other half into LIT, as those disclosed tokens fell sharply on June 5.
Bankless co-founder David Hoffman said that after fully exiting ETH he immediately put about 50% of the proceeds into VVV, NEAR, ZEC and HYPE, then later finished deploying the remaining 50% into LIT. He previously cited approximate entry prices of $1.40 for NEAR, $45 for HYPE, $560 for ZEC and $1.35 for LIT, and argued LIT’s thesis rests on Lighter’s focus on perpetual futures, broader asset coverage including pre-IPO markets, no KYC sign-up requirement, and a zero-knowledge verification system. On June 5, HTX market data showed broad losses across that disclosed basket, with ZEC down more than 32% to $401.58, NEAR down more than 22% to $2.136, VVV and LIT each down more than 21% to $15.79 and $1.388, and HYPE down more than 15% to $62.5.
- perps: Perpetual futures contracts, a type of derivatives product that lets traders speculate without an expiry date.
- KYC: Know-your-customer identity checks that platforms use to verify users before granting access.
- zero-knowledge: A cryptographic approach that can let systems prove rules were followed without revealing all underlying data.