On July 30, Coinworld reported that the famous crypto trader Eugene (0xENAS) announced that he has exited most of his long positions and is maintaining a defensive stance. He pointed out that August is traditionally difficult to predict, and this year's market may not be smooth sailing either. Additionally, he noted that this year's "alt season" could be the weakest in history. Although ETH prices have risen, there has not been a significant wealth effect. This indicates that institutional investors are the primary buying force, and funds have not flowed back into the altcoin market. Therefore, he suggests continuing to follow ETH investments.

ALT-1.87%
ETH1.65%
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