If I could only keep one habit: when I see charts like “stablecoin supply has increased / ETFs are receiving money,” I pause for three seconds first, and don’t rush to treat correlation as causation.

These days, some people are using off-chain funds as an explanation for market movements again, and I understand. Everyone wants to find a “button that explains everything.” But honestly, an increase in stablecoins could be for preparing ammunition, or it could just be switching to a different parking lot; with ETFs, the inflow and outflow rhythm is mixed with sentiment, hedging, and settlement cycles. Don’t jump to the conclusion that “the next step must be a rally” just because the bars get taller.

By the way, before and after a certain mainstream blockchain upgrade, people in the group are guessing whether the ecosystem will migrate en masse… I’m actually more concerned about whether there are small issues with bridges, wallets, or CEX deposits and withdrawals, so that funds don’t get stuck halfway. Anyway, my experience running L2 tasks is that the stories are lively, but the pitfalls are very specific. That’s all for now.