Just now I saw someone post a screenshot of “whales entering the market” on the blockchain, and below that, a bunch of people are getting ready to copy the trade. My first reaction isn’t excitement—it’s to think through this first: what you’re seeing is a buildup, or are they hedging, switching positions, or just doing some arbitrage on the side and casually moving funds through a pool? Especially lately, everyone has been staring at staking unlocks and token unlock calendars, calling out sell-pressure every day—so whales are more likely paving the way in advance than coming to lift you up.

Put simply, before you follow, figure out the “purpose.” The same large inflow could be phased buying, it could be opening a short/putting on protection, or even topping up collateral for LPs. Don’t just look at one transfer and start making up a story about “belief.” First, check whether there’s a matching opposite position afterward, whether they entered derivatives or stablecoins, and whether the timing overlaps with the unlock time points. If you haven’t even figured out what they’re doing, don’t use real money to pay for their lesson.