Today I looked at a few more addresses with "comprehensive tags," and they seem plausible: exchange hot wallets, market making, whales, smart money... all kinds. But when I clicked in for a closer look, the funds were bouncing around in a dozen intermediary addresses, and in the end, they just moved to an obscure pool, made a couple of transactions, and left, so the tags are completely out of sync. It's a bit like using an old map to find a new route—useful for reference, but don't trust it too much.

My current attitude toward addresses is: trust them about 30%, the other 70% depends on how the fund flows, the timing of entries and exits, and who the counterparties are. Especially recently, when the rumor of "regional tax increases / tighter compliance" comes out, the sentiment around deposits and withdrawals changes first, and many address behaviors suddenly become very strange—not smarter, but more cautious and more circumspect. To put it plainly, tags are like profile pictures; the fund flow is the chat history.