Recently, someone has been talking about "smart money flow" using a bunch of tags/clusters, and it always feels a bit awkward to me. Address profiling can be used, but don’t take it too seriously: one person managing multiple wallets, one wallet managed by multiple people, CEXs/making markets/cross-chain bridges getting involved, and the tags start to look like horoscopes... Thinking about it later, it’s quite laughable.

I prefer to look at the "funding path" rather than "identity conclusions": where the money comes from, which contracts it passes through, how long it stays, whether it’s repeatedly moving back and forth. The modular/DA narrative is also quite similar—developers talk excitedly, users look confused, and in the end, it still comes down to who is paying and who is subsidizing. Anyway, I now see "a certain type of address is buying" just as a reference, not as a reason to enter the market.