Within the Ethereum ecosystem, we can delineate three primary sectors: DeFi, GameFi, and Staking. While all three sectors have witnessed capital inflows since the onset of the year, the DeFi and GameFi sectors have predominantly experienced significant capital outflows throughout 2022 and 2023.

However, a notable shift has occurred in the GameFi sector this year, marked by substantial inflows commencing in October, coinciding with the activation of our Altcoin Indicator. In contrast, Staking tokens have maintained consistent positive capital inflows, albeit to a lesser extent in absolute terms.