I just saw someone post a screenshot of stablecoin supply curves alongside ETF net inflow and immediately started shouting "Offshore funds are coming in."

For a moment, I felt a mix of amusement and anxiety...
Correlation can be so deceptive; honestly, an increase in stablecoins might just mean people are selling risky assets to hide out, or OTC is replenishing inventory, which doesn't necessarily mean a market rally.
That ETF money isn't just poured onto the chain with a button press; the process is quite convoluted.
Airdrop season is now being treated like clocking in at work—when the task platform adds more anti-witch measures, many people simply hold stablecoins to wait and see, waiting for a sentiment turning point before jumping in.
I'm quick too, but I really don't want to be that "data looks great" bag-holder.
That's all for now.