The past few days, I've seen a bunch of people directly infer that "off-chain funds are about to go all-in" just because "stablecoin supply has increased + ETFs are experiencing net inflows." I find that a bit uncomfortable... correlation does not equal causation. An increase in stablecoins might just be for exchange reserves, market-making rebalancing, or on-chain arbitrage, and the ETF side also involves different groups of people with different rhythms buying. Don’t force them into the same narrative line.

What I care more about now is: whether the entry path is clean or not, which route is taken, whether slippage protection is enabled, and whether I can avoid being squeezed in a sandwich. By the way, about the "attention equals mining" concept—social mining, fan tokens have been hot again. I initially followed a few that looked quite fresh, but later I found the sentiment-driven rhythm was too heavy, and the data was just so-so... so I quietly unfollowed. Anyway, I’d rather slowly confirm the flow of funds than be pushed by stories to click the confirm button. That’s all for now.