Lately, someone has been asking again, "Will stablecoins lose their peg?"

Honestly, I'm more concerned not with the momentary candlestick chart, but with the underlying panic:
People usually talk about trusting reserves and audits, but when on-chain transfers start queuing and redemption channels slow down, confidence drops faster than the price.
The transparency of reserves is also quite subtle; no matter how good the reports look, if you don't clearly explain "how to redeem in the worst case," pressure can easily lead to mutual踩踏 (trampling).

I've noticed some small anomalies on-chain that didn't happen suddenly;
it usually starts with a few large addresses tentatively moving assets, then small fragmented withdrawals, flickering like lights in the fog.
Adding to that, recent retail investors have been complaining about validator income, MEV, and unfair ordering—basically, "Am I always the one to get cut last?"
This kind of sentiment and panic are actually from the same root: everyone fears being the last one.

Forget it, I won't talk about how to choose now.
My own approach is still diversification and leaving enough liquidity—prefer to earn slowly rather than find the door narrowing when you need to exit most.