Over the past two days I’ve been seeing people discuss whether stablecoins might break their peg again. Honestly, most of the time it’s not that something major goes wrong on-chain—it's that “people think something is going to happen,” and then they all run together. The mentality behind a bank run is really scary.

As for reserve transparency, I think it matters far more than whether the interest rate is high or low. Fancy, flashy reports are useless—the real question is whether people can always match it up and redeem at any time.

The “collapse” of blockchain games is also pretty similar: when inflation rises and the studios pull out, the coin price spirals and quickly drains confidence… I don’t believe the saying anymore that “as long as the scale is big enough, nothing will go wrong.”

Anyway, I’m still the same as before. When emotions are at their hottest, I don’t chase. In panic, I just slowly pick up a little leftover/extra bit of return, keep enough liquidity, and sleep more soundly.