These past couple of nights, I've been monitoring the fee rates, and I casually looked at the stablecoin supply and ETF net inflows data. The group has started repeating phrases like "More stablecoins = the bull is coming" and "ETF inflows = skyrocket imminent"... I can understand, everyone just wants to find a simple button to press for an answer. But honestly, an increase in supply could mean someone is minting coins in preparation to buy, or it could just be exchanges/market makers moving bricks, swapping chains, or stockpiling to handle redemption pressures; the same goes for ETFs—net inflows don't necessarily mean immediate impact on the spot market. Often, it's off-market funds making allocations or hedging, with a pace as slow as an elderly person's walk. Not to mention, recent rumors about stablecoin regulation, reserve audits, and de-pegging immediately spike emotions once shared. The data looks like "something big is happening," but it might just be everyone trying to comfort themselves. Anyway, I stick to my usual rule: only trust the market and risk control. If the fee rate looks suspicious, reduce your position. Don’t mistake correlation for causation and try to force it. That’s all for now.