#稳定币发展 Seeing this wave of data, I can't help but recall my own blood, sweat, and tears lessons from the 2017 cycle.

Celsius fell from a peak of $6 billion to $3.8 billion, and the Winklevoss brothers' assets shrank by 59%—these once loudest Bitcoin believers also couldn't escape the flash crash in October. Their story essentially exemplifies the inevitable outcome of all-in on a single asset—looks tough, but in the face of volatility, everyone is equal.

The most ironic thing is that those who actually made money are the stablecoin teams mocked as "not sexy." Jeremy Allaire of Circle saw his net worth increase by 149%, with one key phrase—policy-supported "Genius Act." They weren't betting on price fluctuations but were earning from ecosystem development.

This is worth pondering: when the big players chase peak wealth, risks are often at their peak too. Those who truly last are never the ones all-in on a single token, but those who can recognize cycles, control positions, and seize infrastructure opportunities. The logic of stablecoins is quite clear—payment demand is a necessity, and with friendly policies, they have vitality.

Anyone who has experienced multiple cycles should understand that, compared to chasing 10x returns, learning to survive until the next cycle in the right direction is the true winning mindset.