Stablecoins, to put it simply, are something everyone collectively agrees to "not move it for now," but once someone starts asking: where are the reserves stored, can they be redeemed at any time, that little spark of doubt turns into a run. Transparency isn't for appearances; it's to prevent people from overthinking. But when people get nervous, no matter how thick the reports are, they can't stop their fingers from clicking "withdraw." These days, some people are using ETF capital flows and U.S. stock market risk appetite to explain crypto price swings, and I can't help but find it a bit funny: emotions move across markets too quickly, and stablecoins can't escape that either. Anyway, I prefer to diversify my holdings and not take "not de-pegging" as a belief. That's all for now.