Recently, I’ve seen everyone watching large on-chain transfers and hot and cold wallets on exchanges, shouting "Smart money is coming" at every move... Honestly, there’s so much information that it makes my head hurt. Not to mention governance: delegated voting was originally meant to be convenient, but over time, the votes have been concentrated into just a few people, which isn’t surprising at all. Who exactly is governance tokens governing? Sometimes I feel like I’m “governing my illusion” — I think I’m participating, but in reality, I’m just handing over power to those who can speak more convincingly.

My current filtering method is pretty crude: I don’t look at “who’s transferring,” only at what the protocol proposals change and who can directly benefit; then I check the voting power concentration. If it’s too centralized, I treat it like a company announcement and don’t get too emotionally involved. The keyboard is still clicking, the mining is long gone, but for now, that’s how I do it.