These days, I see again the rule that "stablecoin supply goes up = it's about to take off," but frankly, correlation does not equal causation. A rise in stablecoins could also mean that people are first selling off risk assets and staying on the sidelines, waiting for opportunities, or even just moving assets across chains/exchanges—don't jump to the conclusion that "new money is entering the market." The same applies to ETFs; inflows and outflows influence spot market sentiment, but it's not like flipping a switch to make prices rise, and off-market funds prefer to take it slow.

Recently, I understand why the "compound yield" approach of pledging and shared security gets criticized as a copycat scheme: the more it stacks, the more it looks like packaging risk into financial products, and when emotions heat up, people start treating "returns" as certainty. Anyway, I’m used to screenshotting when the funding rates and social media buzz are both at their peak… then coming back in a few days to prove who got caught up in the hype.