Lately I've been looking into stablecoins again. It seems that de-pegging often isn't caused by a major bug on the chain, but by people's confidence collapsing first: when everyone suspects that reserves aren't transparent enough, it's like a convenience store suddenly announcing "out of stock tomorrow," and even those with enough to sell get squeezed out to empty shelves. To put it simply, reserve disclosures are not just for compliance; they are meant to cool down the market. Otherwise, when rumors spread, everyone just relies on faith to hold up.

These days, Meme coins and celebrity endorsements have diverted attention again. I truly agree with veteran players advising newcomers not to take the last step... While the excitement is fun, stablecoins are more like a foundation—no one pays attention normally, but suddenly you realize whether it's stable or not. I myself am now trying to diversify and clearly see the redemption paths, even if it means earning a bit less, just to sleep peacefully. Anyway, I can't keep doing the headless, all-in bets anymore.