The Bank of Japan announces a historic policy shift—plans to gradually sell up to 83 trillion yen (approximately $53.4 billion) in ETF holdings. This marks a turning point after decades of ultra-loose policies and will have a profound impact on the structure of global financial markets.

This sale is expected to take about 100 years to complete, with an annual scale of approximately 330 billion yen. The seemingly moderate pace actually implies the enormous scale of holdings. The central bank's approach of "gradual release" is nominally to avoid market volatility, but in the coming decades, the global risk asset markets will face ongoing "selling pressure" expectations. The liquidity environment for assets like $SOL, $SUI, and $ASTER is undergoing fundamental changes.

What does the "liquidity drain" from traditional financial markets mean for the crypto ecosystem? On the contrary, this is precisely the moment that reflects the value of a decentralized financial system. While the central bank slowly adjusts its policy stance over 100 years, the native on-chain decentralized stablecoin system is already building an independent value foundation that does not rely on a single country's central bank.

Traditional stablecoins like USDT, USDC are essentially still tied to the dollar system, whereas the value of decentralized stablecoins lies in: hedging against traditional financial volatility—central bank policy shifts will inevitably trigger re-pricing of global assets, and on-chain stablecoins provide cross-market hedging tools; maintaining stable on-chain liquidity—when external liquidity tightens, native stablecoins become the "ballast" of the ecosystem; long-term allocation foundation—in macro upheavals, some assets need to remain relatively stable at all times. This is not marketing talk, but a practical demand under market structure adjustments.