Eugene: This "alt-chain season" may be the weakest in history, and I am taking a defensive stance on the August market.

Well-known crypto trader Eugene (0xENAS) has exited most of his long positions and maintained a defensive stance. He noted that August is traditionally a difficult month to predict, and this year's market may not be smooth sailing either. Furthermore, he mentioned that this "alt season" may be the weakest in history. Despite the rise in ETH prices, it has not brought about a significant wealth effect. This suggests that institutional investors are the primary buying force, and funds are not flowing back into the altcoin market. Therefore, he recommends continuing to focus on ETH investments.