Recently, people have been using "coincidental transfers" as conspiracy theories, and honestly, many times it's just that the paths haven't been broken down: a sum of money leaves the exchange, goes through a couple of intermediate transfers (some like changing subway lines, some like passing security checks), then goes to a contract or back to the exchange. It looks like a chain, but it might just be the same set of habitual actions running. On-chain isn't mysticism; it's like pouring water back to find the source. First, match the small fingerprints like time, amount, and gas habits, and the coincidence will shrink by more than half.

By the way, I see everyone comparing RWA, US bond yields, and on-chain yield products together, and the sentiment is starting to drift toward "stability = safety"... I personally care more about where the money ultimately ends up: whether it goes into real collateral and liquidation logic, or just gets wrapped up and continues to roll. Don't follow the trend until the last second, especially not that "just right" last second.