Unless the formation of Enterprise Ethereum Alliance supports about 10 or so other cryptocurrencies[1], then the formation is not really the reason.
Imo the Bitcoin ETF rejection produced a knee-jerk reaction and caused a lot of potential (in-case-of-approved-ETF) Bitcoin investors to diversify for now with other cryptos as well, then or at the same time cryptotraders started pumping more.
A lot of altcoins are in a crazy pump-and-dump cycles at the moment, so be cautious.
As for Ethereum, no one in their right mind would base something so crucial on such risky and proven-damaging language/platform. Print all the press releases you want to present yourself innovative etc., but it's a rotten foundation if you care about security and reliability. At least I hope we will see some evolution on that side instead of dirty-patching security issues.