I stared at an address for a long time—the tag on it says “old-weed hoarding coin party.” But when I looked at the on-chain fund flow, it recently interacted frequently with a new RWA pool, shuttling back and forth across L2 chains… I’m thinking the old-coin-hoarders probably wouldn’t be this active, right? 😅

As for address profiling—sometimes you really can’t tell whether it’s truly smart money or intentionally presenting something to get you to notice. Especially now that RWA and U.S. Treasury yields are being discussed together, there are more and more on-chain yield products. Some addresses look like arbitrage bots, but they might actually be big players trying out a new track. Anyway, the more I look lately, the more confused I get—I feel like it’s better to pay attention to more clues in the fund flows.

(Anyway, out of the address I’ve been watching recently, eight out of ten don’t match their tags, and the remaining two might still be my eyes playing tricks… It’s like stubbornly trying to fit a sword to the shape of a boat.)