Trader Eugene: ETH mainly buys from traditional funds and will not buy Ethereum based knockoffs temporarily

BlockBeats news, on July 16th, trader Eugene posted that when deciding on the composition of ETH's position, he deliberately went through the beta list (note: can be understood as altcoins that can outperform ETH) that have a "positive correlation" with ETH in history, such as PEPE, LDO, OP, ARB and other tokens. Eugene believes that a large part of the new buying orders will not come from insiders, but from traditional funds (TradFi). At present, the inflow of ETH ETFs has broken records, while those ETH betas have hardly followed suit. Therefore, it has been decided not to participate in the above-mentioned altcoins temporarily.