Late-night on-chain data browsing is getting a bit overwhelming… Now there are all kinds of “address profiling” with tagging and clustering, it looks pretty convincing, but I’m increasingly hesitant to fully trust it. To put it simply, one address can be split into a dozen parts, and when exchanges/multisigs/routers get mixed in, the labels become just like stickers—if you stick them wrong, you’re still overly confident. Especially when looking at fund flows, many times you think “smart money is buying,” but it’s just task forces transferring back and forth, or cross-chain bridges tricking your eyes.

Now that I have small funds, I’m even more cautious: I only treat profiling as a reference, and if I follow, I only use the smallest position to test, set a stop-loss, and if I lose money slowly, I’ll just consider it tuition. Recently, social mining and fan tokens are again talking about “attention as mining,” but I feel it’s more like feeding data into the tagging system… It’s lively and noisy, but I’ll just withdraw once I complete an L2 task, and I don’t take “being clustered into someone” as a belief.