These days, address tagging/clustering is being hyped up as something mysterious, as if you can instantly recognize "smart money."

I'm just someone who loves analyzing bridge accident retrospectives; the more I look, the more I think: profiles can be used, but don't trust them too much.
To put it plainly, many clustering methods are heuristic rules; changing the routing or adding an intermediate layer can lead you astray, especially when crossing chains—funds flow like they’re crossing a bridge, and chasing them can turn into "I guess he is him."
Recently, RWA, US bond yields, and on-chain yield products are being compared side by side; I also use on-chain flow as a reference, but in the end, it all comes back to: who is paying the yield, where are the risk control barriers, and how does the worst-case scenario play out.
For now, I prefer to miss out rather than be led astray by labels.