Trader Eugene: This "Altcoin Season" may be the weakest in history, and it is recommended to continue focusing on ETH investments

ChainCatcher message, encrypted trader Eugene stated in his personal TG channel that he has exited most of his long positions and is maintaining a defensive stance. He pointed out that August has historically been a difficult month to predict, and this year the market may not be smooth sailing either.

Additionally, he mentioned that this "altcoin season" might be the weakest in history. Although ETH prices have risen, it has not resulted in a significant wealth effect. This indicates that institutional investors are the main buying force, and funds have not flowed back into the altcoin market. Therefore, he suggests continuing to focus on ETH investments.