I’ve been looking at those address labels and clustering charts again, talking the way a “smart money” locator does… To be honest, you can use it as a reference, but don’t put too much faith in it. One person can have multiple wallets, move funds between exchanges, and then add a router to stir things up—then the profile starts to look like fortune-telling. For now, I use it at most as a “sentiment thermometer”: where the funds are piling up, and which side suddenly gets hot, doesn’t necessarily mean I can actually copy the assignment.

That wave of RWA is also pretty interesting. US Treasury yields get pulled in every day to compare with on-chain yield products, but a lot of what’s on-chain is basically a “reward + risk” mixed together in a takeout box, and you still have to pick the main course cleanly yourself. Last night, I only threw in 15u to try a new pool—just to see whether the points rules will change again within a week… Anyway, for now, just keep yourself in the game.