The market's judgment is that the stablecoin sector is fine, but maybe not for crcl. We prefer to trust the data. Right now, USDC is still the absolute leader in the compliant sector. Those competitors do look pretty strong, but let's wait for the data to come out and see. The booming growth of the stablecoin sector is also beneficial for crcl. When we evaluate crcl's valuation, we're calculating based on a 24% market share, not assuming 100%. If everyone is rushing into one market, it only proves that the market is indeed okay. We're bullish on the stablecoin sector, no problem with that.