These days, someone is again watching large on-chain transfers and hot and cold wallets of exchanges, shouting "Smart money is coming" whenever there's movement. I admit I feel a bit envious... They seem to have a radar, while I feel like I'm fishing in the fog. But once it comes to stablecoins, I tend to get anxious: honestly, de-pegging is often not a technical issue, but a panic mentality. Once everyone starts doubting reserves and transparency isn't enough to be "easily checked," the feeling of rushing to exit first and win can spread very quickly. Anyway, I now prefer to earn a little less and split my positions, rather than putting all my eggs in one "seems very stable" basket. Whether it's truly stable or not really depends on people's trust.

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