Recently, the Crypto Assets market has experienced significant Fluctuation, with many attributing the cause to Trump-related news. However, in reality, the true reason for the market's sharp fall is the stablecoin de-pegging incident.

Recently, the USDE stablecoin has experienced a severe de-pegging phenomenon, leading to a large number of leveraged positions backed by it being forcibly liquidated. This has not only affected retail investors but also impacted institutional investors and market makers. This scenario brings to mind the situation during the previous LUNA/UST collapse, which similarly caused a chain reaction in the market and a comprehensive fall.

Although USDE was later pulled back to the pegged price by the project team, this approach is more like a temporary 'life extension' rather than a real solution to the problem. It is worth noting that in a deep bear market, similar stablecoin issues may resurface repeatedly, and each time the impact may be more severe.

The fundamental reason for this phenomenon lies in the inherent design of algorithmic stablecoins: when liquidity collapses, these types of stablecoins struggle to maintain their value. Therefore, USDE may repeat the mistakes of LUNA; it's only a matter of time.

The current market crash should be seen as a warning signal. Wise investors have begun to adjust their portfolios, while those who ignore this signal may face greater risks.

It is important to recognize that issues within the stablecoin system could have far-reaching impacts on the entire Crypto Assets market. In this uncertain market environment, investors need to remain vigilant, closely monitor market trends, and be prepared for risk management.