Recently, rate expectations wavered, and those “smart money” on-chain have been moving extremely fast. Frankly, the risk appetite is pretty intuitive—when lending rates rise, stablecoin positions immediately shrink, and even AMM pools with shallower or thinner liquidity start to wobble along. I actually think there’s no need to be overly sensitive; a bit of dullness in the market is a good thing. For example, in the pile of AI Agent automated trading stuff over the past couple of days, the narrative is getting loud, but there aren’t many that scrutinize safety details closely. One careless on-chain interaction and you might as well be handing money to MEV. I’ll just stick to watching the small price spreads in my own cross-pools—interest-rate fluctuations affect me less. Slow grinding is fine.