I just looked over the address profile on Dune, and it feels like the more I look, the more confusing it gets. The label says it’s a “giant whale,” but the on-chain activity looks like retail—moving small amounts of gas back and forth. The one marked as a “dormant address” instead suddenly woke up, and it even made a move right before the unlock calendar. Honestly, how much can you trust this kind of thing? I feel like the clustering based on algorithmic inference isn’t as reliable as manually going through historical transaction records—at least then you can tell which addresses were left behind by those “famous” blow-up projects back in the day, instead of relying on a bunch of black-box tags to guess.

Lately I keep seeing posts about the unlock calendar—everyone’s shouting about selling pressure anxiety. But when I think back, before the last bull market, it was the same vibe—people kept saying “massive unlocks will dump the market.” And then what happened… Well, maybe I’m talking too much, but market memory can be more reliable than address profiling sometimes—yet other times it can still trick you.