Recently monitoring on-chain transactions, the more I look, the more I think that "sandwich" is a bit like this: you think you're bottoming out, but you're just helping others tighten the bread, swallowing fees and slippage in one gulp... Arbitrage is the same, what you see as an opportunity, they see as whether your trade is big enough.

New L1/L2s are starting to offer incentives to pull TVL again, and veteran users in the group complain about mining, selling, and taking profits. I understand, it's lively, but the more lively it gets, the easier it is to be used as a liquidity tool.

What keeps me calm mainly relies on a habit: before placing an order, first reduce the slippage, split the amount into two trades, and casually check the liquidation chart to see if leverage sentiment is again collectively getting excited... When I see a one-sided situation, I just hold off, rather miss out than become someone else's fee. Anyway, I’ve slipped up before, learned my lesson through pain, and got a little smarter.