Ethereum-based stablecoins now rank as the world's 22nd largest reserve at $183 billion, surpassing countries like Singapore and South Korea in FX reserves. A top trader with a 100% win rate is holding a $151 million long position on 39,000 ETH, signaling confidence in a potential rebound. Analysts note that ETH's price movements have closely mirrored Coinbase's stock (COIN), suggesting a possible breakout if historical patterns hold.