To be honest, the whole “address profiling” thing—I thought it was pretty amazing at first, but later realized it’s really just so-so. There are plenty of labels, like “smart money,” “swing trader,” “whale,” but once you look at what they actually do on-chain, it might just be an “interaction hunter” who grabbed the airdrop and ran. The labels only give a rough idea. If you take them too seriously and follow the crowd, chances are you end up being the bagholder.

Recently, RWA and on-chain U.S. Treasury yields have been getting a lot of hype. Lots of people compare on-chain interest rates with traditional products, but the truth is: on-chain data is just the tip of the iceberg. The address labels you see may be intentionally staged for you. Some addresses shuffle funds around just to get a “smart money” tag, so they can then exit the trade.

My approach now is to treat address profiling as entertainment first and don’t take it too seriously. If you really want to believe something, you still need to dig into the transfer history yourself—see who they’re playing with, and whether there’s that kind of weird “back-and-forth” behavior. In any case, after you’ve paid enough tuition, you’ll know these labels are half reference and half smoke screen.