Recently, I've seen many people watching the curve of stablecoin supply, combined with ETF net inflow screenshots, and start to imagine "off-exchange money is coming in, so it must go up." Frankly, correlation does not equal causation… An increase in stablecoins might be for arbitrage, hedging, or even just changing the wrapper and holding there; ETF inflows could also be just reallocating existing assets, and when sentiment heats up, it looks very dramatic.



Anyway, I'm now more concerned about where the money actually goes once it comes in, whether on-chain permissions are being granted recklessly, and whether the contract addresses are correct. Especially now that testnet incentives and point-earning expectations are rising again, people are guessing daily whether the mainnet will issue tokens, and scammers are working overtime, with a bunch of phishing links. First, clean up your wallet permissions, don’t just stare at macro charts and send yourself off.
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