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

BlockBeats News, May 27th, former Ethereum core developer Eric Conner commented on the "Bankless Founder's Confession: Why I Sold ETH?" incident, stating that he doesn't actually blame the other party because ETH has been significantly underperforming the overall crypto market for many years. He revealed that he has also significantly reduced his ETH holdings in the past 1 to 2 years, and all the assets he reallocated have performed significantly better than ETH.

Eric believes that ETH's long-term weakness may not necessarily stem from fundamental issues, but the more critical reason is that its early price surge was too aggressive, creating a vast amount of wealth in a very short period. Therefore, the market needs a long time to absorb the selling pressure from early holders.

He also stated that having a "maximalist" approach to a single currency in portfolio management is not reasonable. "The market does not lie, there is no need to trade against the trend, and if a coin regains strength, you can always buy back in."

Eric Conner announced his departure from the Ethereum community on January 22, 2025.