Just finished eating a late-night snack and browsing on the chain, I saw someone else just shouting "ETF off-chain funds are coming in" after supplying stablecoins, and I feel a bit like laughing... The correlation shouldn't be mistaken for causation.

More stablecoins might mean preparing to buy, or just repositioning, arbitrage, doing perpetual margin, or even just waiting for opportunities, anyway, there are a bunch of reasons.
ETF is more like a water pipe slowly lining up to enter the market, not that as soon as you rise here, the gate opens immediately there.
By the way, I want to complain about the social mining, fan token set of "attention is mining," honestly, many times it's just everyone refreshing/retrying for distribution, it's lively, but the people who stay might not be many.
I now follow the old rules: only act if I understand, if I don't, I'd rather miss out.