This morning, I spent a long time looking for my alarm clock charger, and I casually pulled up the clustering results of the addresses I ran last night to take a look... To be honest, address profiling can be useful, but don't trust it too much. Someone might have dozens of addresses, with a CEX hot wallet in the middle, and it could even be a team doing liquidity scheduling. Labeling it as "smart money" is a bit self-deceptive.

Recently, new L1/L2s have started offering incentives to attract TVL, and I understand the complaints from old users about "mining, then selling": on-chain, the fund inflows look impressive, but in detail, many are just the same addresses moving back and forth, like step counting. My approach is still old-fashioned: treat clustering as a hint, not a conclusion. In backtesting, I pay more attention to "entry and exit rhythm" and maximum drawdown. Don't let labels sway your emotions. Anyway, that's it for now. I'll check again after I wake up.