Recently, I’ve seen people in the group arguing whether the market is about to be “carried” by stablecoin issuance and ETF inflows. To put it plainly, I set myself a rule: **Don’t treat correlation as causation**. More stablecoins don’t necessarily mean an immediate pump, and off-exchange capital doesn’t always flow into the secondary market—sometimes it’s just arbitrageurs or brick-and-mortar traders moving first. Anyway, I’ve lost money before from this kind of “assumptive” logic. When I see this kind of reasoning now, I put a big question mark on it first.

By the way, miners/validators’ income is being complained about a lot by retail investors right now, and people are also criticizing MEV ordering fairness. But honestly, that “fairness” on-chain is only a relative concept. When you’re making a move, don’t take it too seriously. I’m okay admitting I’ve lost money on short-term trades, but the reason has to hold up—otherwise you won’t even know how you lost it.