Just finished practicing yoga and checked some on-chain data, and I saw that stablecoin supply is again being used as "evidence that funds are about to enter the market"… I understand that kind of excitement, but honestly, correlation does not equal causation.

The increase in stablecoins could mean off-chain funds want to come in, or it could just be everyone switching to "bullets" to sit tight, or engaging in arbitrage, moving funds around, and it’s not necessarily connected to the inflow into ETFs.

I thought ETFs would immediately steer market sentiment, but after watching the market for a while, I realized it’s more like a metronome: sometimes it drives expectations, sometimes it’s just hostage to expectations.
Recently, the testnet incentives and points system are heating up again, and the group is guessing every day whether the mainnet will issue tokens…
Now I try to cut off the "imagined causal chain" first, rather than miss out on a move, I’d rather not chase the emotions.
That’s all for now.