Today I saw on-chain that kind of "coincidental transfer": A sends to B, then B sends to C two minutes later, looking like casual change being thrown out.


At first, I also thought it was probably just a quick wash transaction, but then I realized that breaking down the path makes it look more like: exchange hot wallet → intermediary → contract interaction → back to the stablecoin pool, the rhythm doesn't quite match manual operation, but rather seems like running a fixed process.
Recently, everyone has been comparing RWA, US bond yields, and on-chain yield products together, but I still prefer to focus on "where the money comes from, how it moves, and where it finally lands."
If the path can explain it, the story isn't so mysterious.
Anyway, I now prefer to take my time to draw conclusions and watch a few more steps.
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