Just now I wanted to go make a trade again, my hand almost reached the keyboard, but I stopped myself first. Stablecoins, to put it simply, rely on "everyone's trust" to hold up; the less transparent the reserve disclosures are, the easier it is for emotions to take over: if someone mentions a potential de-pegging, on-chain transfers suddenly become more frequent, exchanges quickly process deposits and withdrawals, and the panic runs like dominoes... If you keep watching the rates/OI/liquidation lines, the core issue is still trust eroding.

Recently, the modular and DA layer narratives have hyped up developers, but ordinary users leave confused after hearing it, and I feel the same. The more these moments happen, the more we should pause and observe: don’t rush into new concepts, first check if the stablecoin inflows and outflows, redemption channels are smooth, and if transparency is sufficient. Anyway, I’m taking a break from trading today, saving some brainpower for tomorrow.