Lately I've been looking at those "tags/clusters/funding flow" dashboards again, and the more I look, the more I feel they can only serve as thermometers, not CT scans. Address profiling, to put it simply, is just statistics plus guesses: the same batch of funds being split and re-split, crossing chains in circles, and in the end, they slap a "smart money" label on it. Actually, it might just be that people get tired of doing tasks and switch accounts casually.

During airdrop season, task platforms are tightening anti-witch measures, and point systems are making the grifting crowd feel like clocking in at work... At this point, on-chain activity has increased, but how much of it is real demand, and how much is "just moving for points," you have to be skeptical. Anyway, I focus more on overall trends than on individual tags; I prefer to go slow.

Today, I've been staring at these charts for a long time, and my eyes are a bit sore, my neck is stiff. Remind myself not to treat on-chain data as an answer bank, at most just clues. That's all for now.