Recently, someone has been using “tag clustering” to profile addresses, claiming that this round of capital flows is from a certain institution entering the market... but I can’t help feeling a bit suspicious. After watching the mempool for a long time, I’ve noticed that many of the “similar-looking” paths are actually batch-generated by scripts. By adding a few layers of relays, splitting orders, and then routing through another chain, the tags start to pat themselves on the back. Especially around the time cross-chain bridges just had issues—everyone got smarter: they split funds first and then wait for confirmation. On-chain, it may look like “smart money,” but it could simply be “scared money” that’s trying to avoid trouble. Address profiling can be used as a reference, but don’t treat it like an ID card. If you really want to trust it, at least factor in cancellation transactions and replacement/override transactions in the pending pool as well—otherwise, you’re just chasing a historical replay.