These days, I see a bunch of people watching whale addresses and trying to copy trades. Honestly, I used to be quite superstitious about "smart money" and would always say, "I only look at on-chain data"... It wasn't until I got proven wrong several times that I realized: on-chain activity doesn't equal direction. Sometimes it's just hedging, repositioning, market making, or even preparing for upgrades/hard forks. Recently, that mainstream public chain needs maintenance, and everyone in the group is guessing whether the ecosystem will migrate. But what I care more about is whether active addresses and the duration of fund stays have changed—don't just get excited over large transfers. Before copying, ask yourself: is this building a position or just saving your life? Anyway, I now prefer to go slow, see clearly before acting.