Recently, someone has been calling the hot and cold wallets of exchanges "smart money" just because they move them, honestly I’ve seen too much and it’s a bit frustrating… What I care more about is where the project’s treasury funds are going: whether milestones are being reached, if updates are being pushed on schedule, whether the on-chain addresses match before and after spending (I tend to use addresses to justify myself, even though I often only check after a pump).

My biggest fear isn’t slowness, it’s chaos: slow at least means the direction is clear, chaos means today’s market crash and tomorrow’s change of course, the treasury is leaking and no one can explain it clearly.
Anyway, right now I’m looking at L2 projects, I’d rather join late than see their expenses match their deliveries, otherwise even if I’m stubborn and tough, I can’t handle it.