A little after 3 a.m., I was messing around with address tags for those sweep-the-floor price NFT projects. Honestly, the “smart money” labels on-chain increasingly feel like just a reference—something you can’t truly trust.

Look at some addresses: they’re clearly tagged as “giant whales” or “early investors,” but when you check their interaction history, it’s all about repeatedly刷-ing against a few new projects. Or they have ties with a bunch of known “mouse-trap” (insider) addresses. In that kind of profile, how accurate is it, really? To put it plainly, the tagging system can only reflect the past, while on-chain funds are always moving—you never know whether it will switch up its “skin” in the next second.

Lately, I’ve been seeing plenty of people complain that on-chain data tools lag behind, and some even deliberately brush labels to mislead others. As for me, I think it’s enough to believe address profiling at around 60–70%; the key is to run your own clustering algorithm and analyze the logic of fund flows. No matter how flashy the data looks, it’s still not as good as calculating the real buy/sell time gap yourself.

Forget it—go sleep first. I’ll need to wake up early tomorrow to keep an eye on the rare-degree rankings.