#稳定币市场 I just saw the data on stablecoins—top 1000 wallets control 85% of the trading volume. This is a wake-up call. I've been in the blockchain space for many years, and what I fear most is that things that appear "decentralized" are actually tightly held by a few institutional players.

Stablecoin payments account for nearly half of the trading volume, which sounds prosperous, but what is the truth? The vast majority of transfers are monopolized by the top 1000 addresses, and although retail P2P transactions are numerous, their share of the total amount is pitifully low. It’s like an illusion—seems lively and crowded, but real decision-making power is entirely in the hands of institutions.

I recall the losses I suffered early on, being fooled by this kind of "false prosperity." Thinking that many participants mean safety, but in reality, a large number of people doesn’t mean dispersed power. The same logic applies to stablecoins—when 85% of liquidity is controlled by a few big players, their decisions can influence the entire market. If these institutions encounter risks or change strategies, retail investors are always the last to know.

In this environment, what we need is not blind participation, but more cautious risk assessment. Don’t be fooled by the superficial prosperity of trading; see clearly who truly holds the chips. That’s the fundamental skill to survive long on the chain.