Just finished eating a late-night snack and browsing the blockchain, I saw someone again using the supply curve of stablecoins to explain ETF inflows and outflows. Honestly, sometimes the correlation is just a coincidence: more stablecoins might mean waiting for an opportunity, or it might just be parked somewhere else. Whether off-chain funds come in or not depends on sentiment and rhythm; it’s not something you can clearly draw with a single arrow. I now prefer to think of it as a thermometer, not a steering wheel. By the way, hardware wallets have been out of stock these days, and phishing links are everywhere. The more “funds are coming,” the easier it is to get excited and click the wrong thing. First, focus on securing signatures and domain names—anyway, I’d rather be slow than risk a big pit from a late-night snack.