I set rules for myself: before I follow a whale, I first check whether it’s accumulating or hedging.

In the recent chain-game crash, many whale wallets stacked inflationary tokens. They moved coins to exchanges while also borrowing stablecoins on-chain to top up—on the surface it looks like a “big buy,” but really it’s cleaning up its own mess. I’m the slow kind; I only realized later. If I really want to follow, first I need to check whether it’s doing on-chain lending/borrowing or cross-chain arbitrage. If you just see positions increasing and rush in, it’s easy to end up being labeled the bag-holder.

Anyway, when I see large transfers now, I’ll slow down first and check whether it’s been making counter-trades on DEXs recently. Staying steady is stronger than anything else.