Lately, I've been studying address profiling, including tags, clustering, and fund flows. The more I look, the more I think, "You can trust it, but don't trust it completely." When the same person runs tasks from three or four addresses, switching between different time periods, the tagging system starts to get self-congratulatory; not to mention when exchange/multi-signature/relay addresses get mixed in, the fund flow looks like a big account, but it might just be a mover. Anyway, I only use it for two things now: identifying obvious wash trading/circular transfers and finding similar entities (protocols or interaction paths that task-oriented traders often visit). As for "this group of people = smart money," I generally don't jump to conclusions.

Just as the main public chain is upgrading, everyone in the group is guessing whether the ecosystem will migrate. I also casually looked at some "pre-migration" fund flows, and many of them just moved assets to CEXs in advance, not really a faith migration... I still stick to the rules, tracking gas and time costs, and avoid being led by tags into the rhythm.