Today’s rain made me doubt my life, and my coffee has cooled down by now… I casually checked the blockchain, and recently everyone has started to believe in “address profiling”: putting a label like whale/smart money/whale hunter, and feeling like you can just copy the homework. Honestly, I only trust half of it now; labels are user-made, addresses can change, the same set of funds can flow back and forth, bridge, or change shells. No matter how advanced the clustering algorithm is, it still has blind spots, not to mention there are deliberate attempts to wash addresses into “high-quality profiles.”

My own approach is still old-fashioned: first look at whether the fund flow is continuous (where it comes from, how it’s split, where it goes), then combine interaction habits. Only if it matches do I dare to follow a little; if it doesn’t, I just treat it as a story. By the way, I’ve been thinking about the recent NFT royalty disputes—creators want income, the market wants liquidity… addresses are the same. The more you want to “see through at a glance,” the more likely you are to get slapped by liquidity. Anyway, I keep dividing addresses and calculating costs; I’d rather make it a bit more troublesome than be fooled by a label into taking it too seriously.