Recently, I’ve been seeing a bunch of people watching “whale addresses” and getting ready to copy trades. My usual habit is to ask one question first: are they building a position, or are they just hedging/arbitraging? While the same address is buying spot, it may also be opening an opposite-side position somewhere else. From the outside, it looks like “adding to a position,” but in reality they’re locking in risk… With small capital, you really can’t keep up with this kind of tempo—slippage and fees will knock you out first. Now Layer2 is also being debated over TPS, fees, and subsidies, and those on-chain transfers back and forth feel more like taking advantage of promotions than showing bullish sentiment. Anyway, I’d rather move slowly: first confirm whether it’s a net inflow or just the same crowd doing internal “left-hand/right-hand” operations, then decide whether to test the waters with only a small amount.