The Real Reason Ethereum Keeps Losing Momentum w/ Haseeb Qureshi

Haseeb Qureshi of Dragonfly Capital discusses Ethereum's identity crisis after Vitalik Buterin's statement refocusing the Ethereum Foundation on core values. He views the statement as bearish for ETH in the near term but notes potential for a second foundation. He also highlights Hyperliquid as a strong risk/reward play front-running future institutional demand, and provides insight on the lack of institutional interest in smaller altcoins. - Vitalik's statement signals EF will not be price-focused, creating near-term bearishness for ETH. - A second foundation focused on commercial adoption could be a future bullish catalyst for Ethereum. - Haseeb recommends Hyperliquid (HYPE) as a long because of its cheap valuation and pending institutional demand. - Institutions currently only hold BTC, ETH, and a little SOL; smaller alts are not on their radar. - Retail capital has not fully returned to crypto, and crypto-native capital is driving recent altcoin moves. - Regulatory clarity (Clarity Act) is a key catalyst for institutional entry into altcoins. - Dragonfly invested in Variational, an RFQ DEX for perps, which could unlock RWA liquidity on-chain.