While reviewing recent pool data, I suddenly thought about sandwich arbitrage. You think you’re the one seizing the opportunity, but in many cases you’re just acting as a stepping stone for someone else’s fees. Those robots wedged in the middle move so fast you can’t even notice it—by the time you react, the money is already gone. The behavior patterns of big on-chain players are sometimes genuinely interesting; they’re not just blindly chasing pumps and dumping, but more about creating liquidity traps, waiting for you to jump in.

Honestly, I’ve happened to see people complaining lately that the on-chain tagging system is lagging, and it might even be deliberately misleading. I think this kind of thing does have some reference value, but don’t take it too seriously. The fund flows you see might be what someone else wants you to see. Anyway, I’m used to running the data myself and then combining it with on-chain behavior, otherwise I always feel unsure.

Forget it—I won’t go too deep. I’m going to get to work.