You say that whenever these big players move, I get itchy and want to follow, but in reality, nine out of ten times I end up scaring myself... Recently, I’ve been watching a few large transactions moving back and forth, and my first reaction is also “Is it about to take off?” But I calm down; maybe they’re hedging, with spot on the left and futures on the right, appearing to add positions but actually locking in risk. Jumping in along with them just turns into taking the wave for them.

Especially lately, new L1/L2s have started offering incentives to boost TVL, and veteran users complain that “mining, selling, and dumping” isn’t without reason. Whales love to play this two-way game: taking incentives on one side while casually draining emotions on the other. Anyway, when I see large transfers between exchanges or chains, I first check if the funding rate has been skewed, then see if the same addresses are opening positions on both sides... I can’t say it’s useful, but at least it can reduce some anxiety.