Key takeaways
Why is ETH being referred to as a “reserve foreign money”?
ETH-based stablecoins rank because the twenty second largest reserve globally, forward of nations like Singapore, South Korea, and India.
Who’s betting huge on ETH’s rebound?
A prime dealer with a 100% observe document is holding 39,000 ETH lengthy ($151M).
Right here’s the factor. Ethereum [ETH] isn’t only a blockchain anymore, it’s mainly a reserve foreign money.
ETH-based stablecoins now rank because the world’s twenty second largest reserve pile… bigger than what most nations hold in FX.
And whereas crypto Twitter argues about “weak momentum,” one prime dealer with a spotless document is quietly loading up longs. Is the ETH breakout already underway?
ETH within the huge sport
ETH’s stablecoin stack is now $183B — massive sufficient to rank because the twenty second greatest reserve globally.
That places Ethereum forward of nations like Singapore, South Korea, Hong Kong, India, and Saudi Arabia in FX comparability phrases. Solely giants like China ($3.6T), Japan ($1.4T) and Switzerland ($1T) sit far above.
Supply: cryptorand/X
That scale issues, as a result of it repositions ETH’s position from “tech sector asset” to a settlement layer with actual financial weight.
If Ethereum is now functionally a reserve denominator, then any cycle breakout in ETH value has potential to be macro.
A thriller dealer looms
The dealer behind handle 0xc2a3 isn’t sitting out the present dip.
They now maintain a recent 39,000 ETH lengthy value $151M (with 10x leverage) whilst funding stays adverse and sentiment stays cautious.
The historical past issues right here: Lookonchain noted on X that he has a 100% win charge throughout main swings.
Supply: X
And whereas additionally they added $118M in BTC and $105M in SOL longs, the important thing takeaway is straightforward. Probably the most “environment friendly” whale on this cycle is positioning dimension straight behind an ETH rebound first.
COIN’s playbook could be ETH’s secret inform
There’s yet another sample value noting, and virtually no person is speaking about it.
COIN led the final breakout, then corrected 34%. ETH adopted with virtually the identical construction and a 31% cooldown. Now each sit in an analogous consolidation field.
Supply: X
Analyst TedPillows pointed out that if COIN pushes to a recent ATH once more, ETH has thus far adopted that subsequent leg up… virtually tick-for-tick.
So whereas the main focus has been reserves, whales, and flows… essentially the most underpriced sign would possibly merely be this.
