Last night, analyzing on-chain data gave me a bit of a scare: I almost took a certain "smart money label" seriously and was about to copy the trade. Luckily, I looked a bit closer and found that the address only had interactions with a few big players; the subsequent transfers seemed more like collection/distribution, and didn't mean they were the same person. To put it simply, labels and clustering are at best "rough guesses," especially when involving exchange hot wallets, routing contracts, and cross-chain bridges, which makes the profiles even more prone to bias.

Right now, Layer 2 is still comparing TPS, fees, and subsidies; on-chain fund flows seem more driven by various incentives. Today on A, tomorrow on B—it's lively to watch but may not reflect real demand. My current approach is a bit more cautious: treat labels as clues, and before key actions, at least manually verify the interaction counterpart, source of funds, and the timeline. Otherwise, it's easy to become overconfident... That's how I'll proceed for now.