Just saw a big whale bridge a sizable amount of ETH from a certain L2 to the mainnet, and now a lot of people are shouting “floor price is coming,” “get on the train fast.” Honestly, it’s actually pretty interesting—at times like this, I’d rather look closer: is it building a position, or hedging? Many copy-traders end up getting burned simply because they don’t distinguish between the two. Think about it: whales often hold huge LP positions or lending/borrowing exposures, and when they move funds, it may be to balance risk rather than to be bullish. RWA and on-chain yield have been getting a lot of hype lately, but I think the more reliable approach is honest arbitrage—e.g., focusing on fee distribution and the gaps created by price spreads. The profit may be smaller, but you’re less likely to be left behind. Anyway, I’m not saying I don’t trust anyone—I’m just no longer buying into this kind of “follow the whale” mysticism, especially before I’ve figured out what’s driving it.