Do you still remember the storm in the second half of 2021? The most terrifying thing during that period wasn't the crash, but the pervasive sense of uncertainty across the entire network.

Rumors of "exchanges being delisted" were rampant, and investors fell into an information black hole. The USD exchange rate was still hanging around 6.35, but the price of USDT was being hammered down to the point of fracture, with some even rushing to sell at 5.9. That feeling was like a leaking boat in a storm, desperately trying to reach the shore but unable to see the way.

Why was this happening? Ultimately, it was a breakdown of information.

**The essence of market panic is data distortion**

Looking back at that panic, one of the root causes was the black box of data. Ordinary users couldn't truly judge: Are exchange funds safe? What is the real liquidity situation? They could only rely on delayed announcements, fragmented rumors, and emotionally charged market quotes to guess.

This isn't an information problem; fundamentally, it's a **lack of data infrastructure**—without a trustworthy, neutral, real-time system that seamlessly connects real-world data with on-chain status.

**Oracles: solving the trust issue from the root**

Now, whenever market fluctuations appear, I feel much calmer. Not because I’m unafraid, but because I see a group of projects trying to solve this old problem of "data trust" from the foundational layer.

Oracles are the key—they enable the blockchain to securely and accurately access off-chain data, establishing a verifiable channel from the real world to the blockchain. This way, market participants are no longer kept in the dark and can make decisions based on clearer data.

When the next storm comes, a market supported by data will have a much lower panic index.