I muted the group, and the world suddenly became much quieter... Before, there was daily noise about "address profile showing smart money entering the market," which gave me a headache. To put it simply, those tags/clusters are just for reference: if the same person is split into multiple addresses, you can consider them retail investors; exchanges, market makers, cross-chain bridges all mixed together, and they are also seen as "institutions." Plus, with new L1/L2 incentives launched, TVL skyrockets, and it's not unreasonable for veteran users to complain about mining, selling, and so on—whether the money can "stay" is a completely different matter. Anyway, now I look at capital flows, first scrutinize the data: is it double-counted, is it circular lending, is it the same addresses self-dealing... After reviewing, I'll decide whether to take it seriously. That's all for now.