I just saw that Van de Poppe is pointing out something interesting about Ethereum. He says that over the past 18 months, the price has dropped nearly 30%, but the volume of stablecoins on the network has increased by 200%. According to him, this is a clear bullish signal.

It caught my attention because Van de Poppe compares this to what happened in 2019. Back then, we also saw a lot of activity on the network first, followed by price movements. He mentions that the market doesn't always react immediately to fundamental changes, but eventually it does. Van de Poppe also notes that similar patterns were seen in June 2022 after Luna, in March 2020 with COVID, and in December 2018 when everything collapsed.

In all those cases, according to his analysis, it ended up being a good buying opportunity. An interesting perspective to keep in mind now with Ethereum.