I just watched a seemingly aggressive whale accumulate, and almost wanted to follow. Then I checked the on-chain records and found that they hedged with short positions using perpetual contracts, and even set up nested permissions… In plain terms, when large funds come in, they’re more often hedging or doing market making, not because they truly believe.

What retail traders fear most when following trades is this: seeing transfers and getting carried away. In reality, they’re playing multi-layer risk hedging. If I can keep just one habit, it’s this: only check the contract’s owner permissions—ignore everything else for now.

Speaking of following trades, the recent “social mining” stuff has also made me uneasy. Attention mining sounds great, but in the end, who is left holding the bag for the token—still depends on later entrants continuing to mine. It just feels like a false proposition. Before you follow, think clearly about whether you’ll be the last runner. Well, anyway, I won’t touch this kind of thing—it’s too illusory. That’s all for now.