#美国证券交易委员会推进数字资产监管框架创新 You might have been listening to those mediocre voices for a long time, no wonder your judgments keep going wrong—it's time to unfollow decisively.

Recently, the crypto community has been discussing a question: Is on-chain US stocks really a good thing or a bad thing?

On the surface, it sounds very attractive—bringing traditional company assets on-chain, isn't that just large-scale liquidity entering the market? But upon closer thought, it's not that simple. The goal of bringing US stocks on-chain is to attract funds from traditional finance, but the problem is: liquidity in the crypto space is already tight. If the big slice of the US stock market is grabbed, it might actually draw away the scarce funds that are already there.

What’s the result? The small coins you hold lose their popularity, and there are fewer buyers. The expected "liquidity explosion" actually turns into a battle of capital squeezing within the crypto circle—big funds concentrate on US stock concepts, leaving retail investors' altcoins even less desirable.

This isn’t to say that on-chain US stocks have no value, but in the short term, their impact on the crypto space might be more negative than positive.