Yesterday, I looked at some "smart money tags/address clustering" panels. To be honest, they can be referenced but shouldn't be taken as gospel. Clustering is essentially rules plus guesses: you can't catch an entity that's split into a dozen addresses, and conversely, merging several exchange hot wallets can mistakenly label retail investors as "whales."

Now, I trust the sense of capital flow more: net inflows/outflows during a specific period, which chain funds move from and to, whether they go into contracts or spot markets, and ultimately whether they end up in CEX.
As for recent comparisons of RWA, U.S. Treasury yields, and on-chain yield products, don't rush to conclusions. First, look at where the returns come from and where the risks lie. No matter how attractive the tags are, they can't withstand a downturn… I just use them as auxiliary tools for now.