Just now my phone popped up a notification—I saw that a certain address transferred a few thousand ETH to an exchange. Immediately, someone in the comments shouted, “Smart money is unloading.” I stared at that address for a long time—wasn’t it just a new wallet activated half a year ago? On-chain data is transparent, but the interpretation people want you to see is what you end up seeing. Anyway, for large transfers, I’m skeptical first—after all, MEV bots are constantly playing blind guesses in the mempool; who can really tell what’s true or false. Privacy is definitely becoming more and more luxurious, but what ordinary users basically want is the right to “not be disturbed”—not total anonymity, but not to be treated like a flare every time. I don’t have much in the way of great insights; I just feel like watching someone else’s on-chain trail as a guide is pretty much like gambling on blind boxes.