I just came across an opinion discussing the relationship between stablecoin supply and ETFs. Honestly, it’s pretty interesting. A lot of people like to treat correlation as causation directly—when stablecoin supply rises, they say big money is entering; when BTC rises, they say ETF buy pressure is strong. But I think there’s a missing bridge in the middle: “off-exchange funds.” Stablecoin net inflows do reflect sentiment, but the timing with ETF inflows can differ, so you can’t generalize it.

I once watched USDT being minted and went all in, only to get trapped in a drawdown. Later I found out it was arbitrage capital actively moving funds around.

I went off topic. Anyway, I’d rather spend more time understanding a project’s mechanics—things like the token unlock schedule and how the liquidity pools are set up—than chase it just because it’s getting hype. The current airdrop season uses a points system, and many people grind through tasks like they’re at work. But I think the key is still how the team approaches security. I’d rather pay more in on-chain fees than put assets into contracts that aren’t audited, or whose audit reports are ambiguous. Take a few extra steps to verify addresses and permissions now, so you don’t end up losing big later.