Trader Eugene: Major ETH Buying Comes from Traditional Capital, No Plans to Buy Ethereum-based Altcoins for Now

According to Odaily Planet Daily, trader Eugene stated in a post that when deciding on the composition of his ETH positions, he specifically reviewed the historical list of “positively correlated” ETH beta tokens (i.e., altcoins that tend to outperform ETH), such as PEPE, LDO, OP, ARB, and others. Eugene believes that a significant portion of new buying interest will not come from insiders, but rather from traditional finance (TradFi) capital. Currently, inflows into ETH ETFs have reached record highs, while those ETH beta tokens have barely followed the upward trend. As a result, he has decided not to participate in the aforementioned altcoins for the time being.