Recently, I've been looking at those "address profiling/tag clustering" again, to be honest, I can only trust half of it. Many tags seem quite plausible, like smart money, institutions, whales... but someone splitting into a dozen wallets, exchanges moving hot and cold wallets back and forth, project teams running around with multi-signature wallets, in the end, the clustering looks more like "guesswork."

Now I mainly use tags as filters: first look at where the funds come from, where they go, how long they stay, whether they circle around and return to the same set of addresses; I don't dare to draw too firm conclusions, prefer to take it slow.
By the way, I saw someone comparing RWA, US bond yields, and on-chain yield products together, and I also feel quite conflicted: whether that little "yield" on-chain is actually the underlying cash flow, or just an incentive in different words... Anyway, I prefer to break down the mechanisms first.
What I fear most is not missing opportunities, but rather, knowing the risks clearly and still pretending not to see them.