These days, I’ve seen people talk about chains of reasoning like "Stablecoin supply has increased = ETF off-chain funds have come in = the price should go up next." Honestly, the correlation looks neat, but don’t mistake it for causation. An increase in stablecoins might be due to exchanges holding reserves, market makers moving assets, on-chain lending and borrowing, or even just changing the wrapper and holding it there — it’s quite far from “actual buying.”

Before placing an order, I still have the habit of checking depth and impact cost first. I’d rather miss out than become a liquidity donor… Especially now, with a bunch of testnet incentives and points expectations, people are treating “mainnet token issuance” as if it’s a certainty. When emotions heat up and routing gets chaotic, slippage starts to steal from you. Anyway, I prefer to see “supply” as a thermometer — first figure out where the water is flowing before acting. In the end, I still say: don’t let slippage teach you causality.