Just saw the Layer 2 crowd arguing again about TPS, fees, and subsidies—bickering like a vegetable market fighting over discounted specials 😂

Honestly, it’s kind of interesting. Everyone’s staring at on-chain data and thinking that capital inflows into ETFs mean a bull market is here. But that stablecoin supply thing—it's been going up and down for a while, and I haven’t really cared much.

Recently, USDT issuance ramped up hard. A bunch of people were shouting that over-the-counter funds are coming in. Then when you look closer, isn’t it just market makers shuffling funds back and forth?

As for me, I’m a bit slow on the uptake. In the past, when I saw good news, I’d rush in—how many times have I gotten burned and had to post about it. Now I actually think that the movement of capital is like cooking: when the timing and heat are right, it naturally turns out fragrant. Don’t rush to treat correlation as causation—slow down and look at what all those on-chain trades are really washing. It’s more important than everything else.

Anyway, for now, that’s it. I’m still keeping some position in DeFi yield pools; the rest can wait.