Just now, I was tagged in the group: "Look at these two addresses transferring back and forth in the same second, is it insider trading?" I took a deep breath... Many so-called coincidental transfers, when broken down, are actually quite simple: A first sends to an exchange or aggregator's hot wallet, then the hot wallet batches and sends funds back to a bunch of people; or the same person consolidates funds with different wallets first, then distributes to new addresses, with timestamps squeezed together, making it look like a performance. To put it plainly, don’t just focus on two transactions; follow the path and identify the intermediate "public nodes" (CEX, routing contracts, bridges, change addresses), and a lot of the mystery disappears. Recently, everyone has been comparing RWA, US bond yields, and on-chain yield products, which I can understand, but the more "stable like traditional finance" narratives are, the more you need to see clearly how the funds are moving and who holds the authority... Anyway, I’d rather be slow than end up having to write an apology statement again someday.