Trader Eugene: ETH's main buying pressure comes from traditional funds, and will not buy into Ethereum-based altcoins for the time being.

Trader Eugene posted that when deciding on the composition of his $ETH position, he specifically reviewed a list of "positively correlated" betas with $ETH in the past (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 portion of the new buying will not come from insiders, but from traditional funds (TradFi). Currently, $ETH ETF inflows have broken records, while those $ETH betas have barely kept up in comparison. Therefore, he decided not to participate in the aforementioned altcoins for the time being. [Odaily Planet Daily News]