Recently, I've seen a bunch of "smart money address profiles" again—whales, institutions, diamond hands... Basically, it's similar to astrology analysis; it can be used as a reference but shouldn't be taken as an edict. An address might belong to an exchange's wallet, a quantitative script, a project team's fund wallet, or even the same person moving funds left and right. Using labels to infer "fund flow" is easy to mislead and get manipulated.

Now, comparing RWA, U.S. bond yields, and on-chain yield products all together, I also find it quite frustrating: the so-called "yields" on-chain are often just incentives wrapped in different disguises, and their risk structures are fundamentally different. To put it in a life analogy: guessing how wealthy someone is based on a takeout receipt is occasionally accurate, but mostly you don't know who ordered, who reimbursed, or if they split the bill... Anyway, I only look at labels to see "where they might be pretending," not "what I should chase after."