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Former Ethereum Core Developer: ETH Has Seriously Underperformed the Market for Years, But Saw Significantly Higher Gains After Reducing Holdings in the Past Two Years

2026.05.27 12:23:03

May 27th, former Ethereum core developer Eric Conner commented on the incident titled "Bankless Founder's Confession: Why I Sold ETH?" He said he doesn't blame the Bankless founder at all, pointing out that Ethereum (ETH) has significantly underperformed the broader cryptocurrency market for years. Conner also revealed that he has cut his ETH holdings drastically over the past 1 to 2 years, and all the funds he reallocated into other assets have delivered far stronger returns than ETH. Conner added that ETH's prolonged weakness likely isn't rooted in fundamental flaws, but rather its early price rally was too sharp, generating massive wealth in an extremely short period. As a result, the market needs a long time to absorb selling pressure from early holders. He further stated that adopting a "maximalist" mindset toward a single cryptocurrency in portfolio management is not rational. "The market doesn't lie—there's no need to trade against the trend, and if a coin regains momentum, you can always buy back in afterward." Eric Conner announced his exit from the Ethereum community on January 22, 2025.
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