Lately, I've been seeing everyone repeatedly say "On-chain data proves what," and I want to correct a bit: what you see as "on-chain" isn't necessarily the on-chain data at that exact moment. Many people are actually looking at results outputted by RPC nodes, or caches processed secondarily by indexers/dashboards. Nodes are chasing blocks, RPCs are rate-limited, indexers are queuing and replaying; even if it's just a delay of a few seconds, you'll think that "funds just flowed in/out," but in reality, it's just that they've just finished syncing.

Especially recently, there's a lot of hype around interpreting ETF fund flows, US stock market risk appetite, and crypto market rises and falls as tightly linked. When the pace is fast, delays are more easily mistaken for "causality." To put it simply, don't rely too much on screenshots and dashboards; cross-check multiple sources, run a light node yourself, or switch between several RPCs. Observe the time difference when the same transaction appears in different places, and you'll get a sense of it. We'll talk more next time.