Van de Poppe: ETH down 30% as stablecoin transactions jump 200% over 18 months

On February 11, 2026, analyst Michaël van de Poppe told his 819,500 X followers that Ethereum is showing a signal he links to 2020: ETH is down 30% while stablecoin transactions on Ethereum rose 200% over the past 18 months. He also pointed to MVRV readings suggesting undervaluation, with ETH at $1,947.56, down 2.99% in 24 hours.