Recently, I saw a bunch of people watching on-chain large transfers and hot/cold wallet movements on exchanges as "smart money" interpretations. Honestly, I also get tempted to look, but when it comes to placing orders, the emotions in the order book and the funding rates are more likely to lead me astray... Especially at night, the more I watch, the more it seems like a signal, and the more I want to prove myself right.

As for the PFP/member/brand setup, I’m now a bit divided: long-term value definitely exists, provided it can truly keep people in a community to do things, not just rely on avatars and tickets to attract attention. But when market sentiment heats up, everyone leverages on "sense of belonging," and suddenly no one cares who you are anymore.

Anyway, I treat it as practice: don’t rush to justify "I bought it = I am this brand," ask yourself first, would I still be willing to hold it if it gets cold tomorrow? If you can’t do that, then reduce your involvement, at least don’t add to your position when you’re already in. That’s it for now.