#稳定币市场扩张 The recent "flash crash" event of USD1 has sparked quite a bit of discussion. Upon closer inspection, it's actually quite interesting. Essentially, this is not a systemic risk, but a normal market phenomenon caused by insufficient liquidity in new trading pairs—a large market order sweeps through weak buy orders, causing a sudden price fluctuation, but arbitrage bots quickly correct the price.

This incident actually reflects an important issue in the expansion of the stablecoin market: **liquidity depth**. As competition among multiple stablecoins like USD1, USDC, USDT intensifies, the market needs deeper liquidity infrastructure to support it. Having trading pairs alone is not enough; we also need sufficient market makers, cross-exchange arbitrage mechanisms, and enough trading depth.

What is truly promising is that this is a necessary step toward the maturity of Web3 finance. From DeFi to stablecoin ecosystems, every small market fluctuation pushes us to build stronger and more robust systems. When the liquidity infrastructure becomes sufficiently deep, decentralized finance will be able to truly support large-scale applications. These "flaws" are actually paving the way for the future.