A major on-chain movement just occurred—an institutional investor withdrew 202,077 ZEC from a centralized exchange, roughly worth $90 million at current prices. This isn't just a simple transfer; it's a clear expression of stance.

What does this signify? Think about it—when you manage such a large amount of assets, what's your first reaction? Certainly not to keep them in exchange accounts. Large holders are making a choice: to shift a massive amount of assets from the "custody model" of exchanges back to fully controllable on-chain addresses.

The underlying logic is straightforward—first, distrust in centralized institutions is deepening. Remember the news about frozen accounts? Large holders remember. Second, they might be preparing for big moves, stockpiling "ammunition" in advance. Third, in the face of extreme market volatility, self-custody on the chain is more valuable than anything else.

But here’s the question: with so many assets on-chain, how can you ensure sovereignty and independence while hedging against sharp price swings? The answer points to one direction: decentralized stablecoins.

Imagine the big holders’ approach—convert part of their assets into decentralized stablecoins like USDD. What’s the effect? First, completely avoid the risks associated with drastic price fluctuations. Second, more importantly, your funds are 100% under your control, with no hidden risks of centralized freezing. Stablecoins operated through over-collateralization and on-chain governance perfectly meet the needs of large holders—"stability and autonomy." This isn’t a passive "lying flat" strategy but an active effort to build a stable base. When market opportunities arise, this stable capital can be quickly mobilized for precise strikes.

From this whale movement, it’s clear that the real players are not just fleeing centralized risks but building a fully self-controlled, risk-resistant asset system.

The takeaway for ordinary users might be—there’s no need to rush into risky assets. Instead, learn from this mindset: systematically migrate your core assets into a self-controlled, stable, and well-functioning system. When risks hit, you’ll have real confidence.

Every large on-chain transaction reflects market participants’ strategic thinking. The key lesson this time is: how to balance autonomous control with risk mitigation.