Recently, people have been discussing whether stablecoins will lose their peg again, honestly I see it pretty much the same as NFT floor prices: liquidity + sentiment, don’t focus on the story for now. As for reserve transparency, it’s not enough to just release an audit PDF, when a run happens, everyone only cares about “Can I exchange it back immediately,” the more hesitant, the easier it is to trigger a panic. This is the third time I’ve seen collective anxiety like this, each time it starts with small rumors, then on-chain funds withdraw wave after wave.

By the way, I want to complain that recently on-chain data tools and tagging systems have been questioned for being outdated, it’s quite true. Sometimes when I see “smart money is buying,” I just think it’s a joke… a wrong tag can lead people to the wrong rhythm. Anyway, my own approach: don’t go all-in on a single stablecoin, if you really want to hold, diversify + stay flexible so you can leave at any time, sleep more peacefully.