Lately, I’ve been looking at those address-visualization/profile “pictures.” The more I look, the more it feels like they’re just putting labels on people: smart money, whales, mouse accounts… Put simply, it’s clustering a bunch of behaviors into a few words, and once you draw the chart it looks very confident. But the moment real capital flow turns a corner or switches to a different intermediary address, I start to doubt: how much of this can you actually trust? Maybe it can only serve as an “emotional thermometer,” not an ID card.

My mindset is also updated. Before, seeing a certain address buy would make me itchy to follow it; now I feel more like I’m quietly watching from underwater, at most treating it as a clue—while also observing whether the floor price and liquidity are tightening along with it. Recently, the line about privacy coins, mixing services, and compliance has been argued into quite a split—some profiles will dismiss everything as soon as it’s tagged “suspicious”… I’m not picking sides anymore. Either way, the more I look on-chain, the more I feel the world isn’t that neatly organized. That’s all for now.