This is the fourth time. Every time we see a large transfer on-chain, or hear that an exchange’s cold wallet has moved, a group of people starts yelling, “Smart money is entering!” Then the hot topic changes in turn, and the harvesting comes in rounds—retail traders get cut round by round. To be honest, I’ve chased it too, but I found that most interpretations of those “smart money” stories are basically mysticism. MEV bots move faster, and when small retail traders rush in, they end up as the bag-holders. Now I’m more willing to dig through audit reports and check whether the protocol logic has any hard flaws—it's slower, but at least I get harvested less. Anyway, it’s an attention economy—whoever panics first loses first.