Lately, I've seen everyone tying ETF capital flows, US stock risk appetite, and crypto market rises and falls together in their interpretations, and I can't help but feel a bit amused and somewhat powerless... Anyway, macro factors will influence sentiment, but when it really comes down to end users, things like modularity actually change things quite "trivially": using the same wallet across different chains back and forth, no longer fussing over which chain is the strongest, it's more about a smoother experience like switching app servers, with more stable transaction fees and confirmation times. As for who is responsible for execution or data at the underlying layer, honestly, ordinary people don't really care.

The most obvious change I feel is that the "choice pressure" has decreased—projects no longer have to all crowd onto one main chain, and a slower narrative progression is okay. But it's not all good; with more bridges and fragmented chains, the sense of security actually depends more on infrastructure not dropping the ball. Last night, I stared at on-chain transfers for a long time, my eyes tired, my neck stiff... Just reminding myself not to treat technological progress as a short-term signal, to take it slow and accumulate gradually, for now.