Eugene: This "alt season" may be the weakest in history, taking a defensive stance on the August market. PANews reported on July 30 that well-known encryption trader Eugene (0xENAS) stated that he has exited most of his long positions and is maintaining a defensive posture. 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 "alt season" could be the weakest in history. Although ETH prices have risen, it has not brought about significant wealth effects. 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.

ETH-0.25%
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