#稳定币应用与发展 Seeing Phantom under the pressure of a $3 billion valuation, betting on stablecoins and a multi-chain ecosystem, I am thinking about a question: Are wallets rushing to develop debit cards and prediction markets to expand the ecosystem or to divert focus?

Honestly, stablecoin applications are indeed an opportunity. But for investors like us, what’s more worth paying attention to is the underlying logic—when competition intensifies, platforms tend to launch new businesses to fill growth anxiety. It’s in these times that we need to stay calm.

My experience is not to be fooled by the glamorous ecosystem narratives. Instead of chasing various innovative applications, ask yourself a few questions first: Do these new features truly solve user pain points, or are they just flashy? Is my safety margin in this space sufficient? Can I withstand the volatility of this track?

Stablecoins as infrastructure are indeed valuable, but only if you have a clear understanding of the ecosystem you’re in and a good grasp of your position allocation. Don’t over-allocate just because a project has a high valuation or a compelling story—that’s something I’ve always emphasized. In the long run, projects that can stick to solid fundamentals are often more worth supporting than those rushing to break through.