Swiping through on-chain data until my eyes are sore, today I saw a bunch of charts in the group showing “smart money addresses” and “certain tag clusters entering the market” flying around... To be honest, address profiling can be referenced, but don’t treat it as gospel. An address could be a exchange wallet, a market maker breaking up orders, or even the same person switching aliases; no matter how advanced the clustering algorithm, it can still make mistakes—it's like judging personality by zodiac signs: somewhat similar, but not reliable.

Recently, rumors about stablecoin regulation, reserve audits, and various “de-pegging” warnings have been bouncing around ten times, and emotions are moving faster than the data. During these times, it’s easier to be led by “capital flow” cues. What I care more about now is: is the inflow spot trading or leverage? Is it just moving through cross-chain bridges and then leaving? Anyway, before entering a pool, calculate the volatility range first; if the fee rate isn’t enough, don’t push it hard—better to earn less than to get burned again by impermanent loss.