Trader Eugene: ETH's main buying interest comes from traditional funds and is currently not interested in Ethereum-based altcoins

BlockBeats News, July 16th, trader Eugene posted that when deciding on the composition of his ETH position, he deliberately went through the historical list of beta assets that have had a "positive correlation" with ETH (note: this can be understood as altcoins that can outperform ETH), such as PEPE, LDO, OP, ARB, and other tokens.

Eugene believes that a large part of the new buy-side demand will not come from within the crypto community, but from traditional finance (TradFi). Currently, the inflow of ETH ETFs has reached a record high, while those ETH beta assets have hardly seen any increase in comparison. Therefore, he has decided not to participate in the aforementioned altcoins for the time being.