Last night I stayed up until 3 a.m. again, watching the stablecoin supply line go up a bit, and someone started shouting "ETF money is coming in." To be honest, it's too easy to deceive oneself with correlation: the increase in stablecoin issuance might just be market makers preparing ammunition, or it could be cross-chain transfers, or even someone planning to buy Meme tokens on-chain... it’s not necessarily new outside money. ETFs are more like an entry point, but for that entry point, some people enter and some people exit, and there may not be immediate footprints on the chain.

I ask myself: how should I really look at this?
First, see if on-chain behavior has changed accordingly; if it hasn't, don’t rush to jump to conclusions.

Recently, celebrity calls have become hot again, and attention shifts are incredibly fast. The old player’s advice of "don’t take the last baton" is really not just for show... I, as a lone wolf, would rather earn a little less and wait for the data to speak for itself.