{"id":93036,"date":"2026-01-12T14:33:25","date_gmt":"2026-01-12T11:33:25","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=93036"},"modified":"2026-01-12T14:35:22","modified_gmt":"2026-01-12T11:35:22","slug":"analyst-dismisses-ethereums-death-narrative-as-misguided","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/analyst-dismisses-ethereums-death-narrative-as-misguided\/","title":{"rendered":"Analyst Dismisses Ethereum&#8217;s &#8216;Death&#8217; Narrative as Misguided"},"content":{"rendered":"<p>The notion of Ethereum&#8217;s &#8220;demise,&#8221; based on its prolonged decline against Bitcoin, is unfounded, according to MN Trading founder Micha\u00ebl van de Poppe. He suggests the current trajectory of the asset mirrors the market pattern of 2019.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/search?q=%24ETH&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$ETH<\/a> is called dead, as it has been trending downwards for four years against <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a>.<\/p>\n<p>However, since April &#8217;25, it has bottomed out and we&#8217;re already in an <a href=\"https:\/\/twitter.com\/hashtag\/Ethereum?src=hash&#038;ref_src=twsrc%5Etfw\">#Ethereum<\/a> market. <\/p>\n<p>Comparable to 2019. <a href=\"https:\/\/t.co\/G4z512IjN8\">pic.twitter.com\/G4z512IjN8<\/a><\/p>\n<p>\u2014 Micha\u00ebl van de Poppe (@CryptoMichNL) <a href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/2010345984467874263?ref_src=twsrc%5Etfw\">January 11, 2026<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;Since April 2025, the market has bottomed out, and we are already in the growth phase of Ethereum,&#8221; wrote van de Poppe.<\/em><\/p>\n<\/blockquote>\n<p>The ETH\/BTC chart shows that after hitting a low in April (0.017), the rate recovered to 0.043 in August, but then retreated to 0.034 amid the <a href=\"https:\/\/forklog.com\/en\/news\/whales-adl-and-the-end-of-the-bull-what-really-happened-on-cryptos-black-saturday-2\">October market correction<\/a>.<\/p>\n<p>A key argument for growth, according to the analyst, is the increase in the volume of <a href=\"https:\/\/forklog.com\/en\/news\/what-are-stablecoins\">stablecoins<\/a> on the Ethereum network.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p lang=\"en\" dir=\"ltr\">The stablecoin supply on <a href=\"https:\/\/twitter.com\/search?q=%24ETh&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$ETh<\/a> has seen an increase of more than 65% over 2025.<\/p>\n<p>It&#8217;s doubled since the peak in 2021.<\/p>\n<p>Yet, price isn&#8217;t picking up, but I&#8217;m buying.<\/p>\n<p>Watch the update here:<a href=\"https:\/\/t.co\/mYMwkKdnA8\">https:\/\/t.co\/mYMwkKdnA8<\/a> <a href=\"https:\/\/t.co\/NEx9uPkMQH\">pic.twitter.com\/NEx9uPkMQH<\/a><\/p>\n<p>\u2014 Micha\u00ebl van de Poppe (@CryptoMichNL) <a href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/2010345988335276370?ref_src=twsrc%5Etfw\">January 11, 2026<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Van de Poppe noted that the supply of &#8220;stable coins&#8221; on the network increased by more than 65% in 2025. Since the peak in 2021, this figure has doubled.<\/p>\n<p>According to <a href=\"https:\/\/defillama.com\/chain\/ethereum?tvl=false&#038;stablecoinsMcap=true\">DefiLlama<\/a>, the total market capitalization of stablecoins on the Ethereum blockchain has exceeded $164 billion. Tether&#8217;s USDT holds a dominant position with a 52% market share.\u00a0<\/p>\n<p>Statistics from Token Terminal also indicate widespread adoption: in just one quarter at the end of 2024, the network processed transfers worth $8 trillion.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">BREAKING: The stablecoin transfer volume on <a href=\"https:\/\/twitter.com\/ethereum?ref_src=twsrc%5Etfw\">@ethereum<\/a> surpassed $8 trillion in Q4, marking a new all-time high. <a href=\"https:\/\/t.co\/CzXBO9bt0W\">pic.twitter.com\/CzXBO9bt0W<\/a><\/p>\n<p>\u2014 Token Terminal \ud83d\udcca (@tokenterminal) <a href=\"https:\/\/twitter.com\/tokenterminal\/status\/2007923331526459855?ref_src=twsrc%5Etfw\">January 4, 2026<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>At the time of writing, the second-largest cryptocurrency by market capitalization is trading at $3118 (+0.3% over the past day).<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"625\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-a4d7d63a294413c5-3433781884730340-1024x625.png\" alt=\"ETHUSDT_2026-01-12_13-06-39\" class=\"wp-image-273180\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/img-a4d7d63a294413c5-3433781884730340-1024x625.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/img-a4d7d63a294413c5-3433781884730340-300x183.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/img-a4d7d63a294413c5-3433781884730340-768x468.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/img-a4d7d63a294413c5-3433781884730340.png 1428w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">15-minute ETH\/USDT chart from Binance. Source: <a href=\"https:\/\/www.tradingview.com\/chart\/?symbol=BINANCE%3AETHUSDT\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>Earlier, an analyst known as CryptoOnchain <a href=\"https:\/\/forklog.com\/en\/news\/weak-institutional-demand-dampens-ethereums-growth-prospects\">claimed<\/a> that weak institutional demand deprived Ethereum of chances for rapid growth.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The notion of Ethereum&#8217;s &#8220;demise,&#8221; based on its prolonged decline against Bitcoin, is unfounded, according to MN Trading founder Micha\u00ebl van de Poppe.<\/p>\n","protected":false},"author":1,"featured_media":93037,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"Ethereum's decline against Bitcoin is not its \"demise,\" says analyst.","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[46,1138,807],"class_list":["post-93036","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-ethereum","tag-opinions","tag-stablecoins"],"aioseo_notices":[],"amp_enabled":true,"views":"257","promo_type":"1","layout_type":"1","short_excerpt":"Ethereum's decline against Bitcoin is not its \"demise,\" says analyst.","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/93036","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=93036"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/93036\/revisions"}],"predecessor-version":[{"id":93038,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/93036\/revisions\/93038"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/93037"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=93036"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=93036"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=93036"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}