🚀 ETH Undervalued? 15x Stablecoin Boom Signals Ethereum’s Next Breakout!

Ethereum's been quietly building while the crypto crowd chases memecoins—now the numbers scream opportunity. Stablecoin supply just exploded 15x, and ETH's primed to ride the wave.

The stablecoin surge: Ethereum's secret fuel

When dollar-pegged tokens flood the ecosystem, liquidity follows. More transactions, more DeFi action, more network demand—all paid in ETH gas. Textbook value accrual that Wall Street still doesn't get.

Undervalued or just ignored?

While TradFi analysts obsess over 'blockchain adoption' PowerPoints, the real adoption metric—cold hard stablecoin volume—is painting a different picture. ETH's market cap hasn't kept pace with its actual utility growth.

The coming squeeze

With staking yields compounding and layer-2s finally delivering scale, Ethereum's set for a re-rating. The 15x stablecoin multiplier? That's not speculation—it's rocket fuel waiting for ignition. (Cue the usual suits who'll 'discover' this trend six months late.)

Is ETH the stablecoin beta?

Here, it’s worth pointing out that there was no significant and immediate price reaction on ETH’s charts after the GENIUS Act was passed this week. In fact, the immediate beneficiaries of the bill were Circle’s CRCL and Coinbase’s COIN as both pumped by double digits. 

Perhaps ETH’s reaction was sluggish because the broader market was focused on the geopolitical tensions between Israel and Iran. 

That being said, Lee’s statement on stablecoin’s 30% dominance in Ethereum network fees is true. Over the past 30 days of trading, Circle and Tether contributed over $700 million to Ethereum network fees. 

In fact, the top three fee contributors to the chain were Tether, Circle and Ethena – All stablecoin issuers. 

Source: DeFiLlama

Explosive 15x stablecoin growth, from its current $250 billion market size, could expose the chain to massive network traction in terms of fees. 

That being said, is the asset undervalued at its press time price? Well, according to its MVRV Z-score, ETH may be relatively cheap at a price of $2.5k.

Notably, in the current cycle, ETH WOULD peak at $4k if the indicator tags 2 or 1.5 on the charts. 

Source: Glassnode

Assuming the trend continues for the rest of the cycle, the current reading of 0.4 means there is ample room for growth before ETH hits a local price peak. 

In fact, the MVRV pricing bands also revealed that ETH could peak at around $4.8k or $6.4k if historical trends repeat. 

Source: Glassnode