Recently, I've seen people connect the dots like "Stablecoin supply goes up = ETF is buying = big funds are coming in," implying a causal relationship. Honestly, the correlation is quite easy to mistake for causation... I made a small chart that overlays the minting/burning of several stablecoins with the net inflows of a few exchanges. The timing often doesn't match up, and it looks more like OTC rebalancing, market-making stockpiles, or hedging transfers, rather than confirmed buying pressure.

By the way, the news about the main public chain needing upgrades/maintenance is also quite interesting. The comment section is speculating whether the ecosystem will migrate, but on-chain assets tend to move first when there's uncertainty, which is different from the project actually moving away.

For my own safety, I’m willing to take an extra step: I test new chains/new contracts with a small account and small amounts first. I’d rather spend an extra half hour and pay a few more gas fees, at least to avoid using my main wallet as a guinea pig right away... I’ve been educated once and learned my lesson.