To be honest, I think believing “address profiling” stuff even three ways out of ten is already being generous. On-chain labels get collected and moved around, but in the end it’s still just a few protocols or MEV bots that are there doing data scraping. You see a wallet labeled as “smart money,” and it might just have been running with some whale’s MEV bundle for a round, making a little profit from slippage, and the next second it gets trapped.

Recently, the NFT royalty controversy started up again. Between creators’ earnings and secondary liquidity, to put it bluntly, it’s a zero-sum game. If you let creators earn royalties, then buyers have to bear higher gas fees and slippage, and the result is worse liquidity—so nobody is happy. Anyway, I don’t believe those “address profiles” can really tell who the true collector is and who the shill is. Most of the time, it’s just a tool for showing off.

That’s it for now. Don’t trust labels—watch where the money actually goes. Hehe.