One key reason for ETHs underperformance in recent quarters is just simply capital outflows

from the Ethereum ecosystem to alternative layer ones like Solana and Sween, who are attracting

users with superior speed, cheaper costs, and wider accessibility to retail.

We all want to believe in something. In Chinese, belief also means trust. We want to trust our systems and each other, so we can build a future beyond what we know.

Join us at Consensus Hong Kong, where belief becomes real.

Hello, and welcome to Markets Daily hosted by me, Jen Sanasi. On this show, we navigate the current shaping the crypto markets, providing insights against the broader financial landscape. So whether you're actively trading or simply fascinated in the volatility that is the crypto markets, the show is your compass to understanding what's happened where we are and where we're going. Joining me on today's show is Head of Digital Asset Research at Veneck, Matthew Sego.

Matthew, how are you?

Hi, Jen.

Thanks for having me.

Of course.

Thanks for being here.

I like to start off by asking this question of all my guests.

What have you been watching recently?

I guess we've been watching the persistent resilience of Bitcoin dominance. You know,

it's common during the bull market phase to have many drawdowns for Bitcoin in the 10% range,

and that's more or less where we've been hanging out since

BTC hit that all-time high right before the inauguration. But really, the alt coins,

Ethereum, and especially if we look at our equal weighted basket of the top hundred coins has been really disappointing.

This is the biggest post-election drawdown that has ever occurred subsequent to an election.

And, you know, it seems like there's a lot of frustration with the kind of tokenomics and inflation rates of many of kind of the 2024 vintage of altcoins.

So I guess, you know, the biggest question that we're getting and trying to ask ourselves as well is what will catalyze a resumption in kind of alt-coin

outperformance. Well, I'm going to ask that question right back to you. What have you found as you

...