Recently, someone on the chain has been watching whale wallets and wants to follow trades. To put it simply, I always ask myself one question first: are they slowly building a position, or are they using spot to hedge—setting up a risk cushion? With the same large transfer in and out, sometimes it’s just moving the position to prepare for staking; following in instead can turn you into the “high-price relay.”

That main Layer 1 chain isn’t it supposed to be upgrading/maintaining? People in the group are all guessing whether the ecosystem might migrate, and I think we shouldn’t rush into filling in the plot. Before and after the upgrade, whale activity will be more chaotic—many are “life-saving operations” like adjusting margin and swapping collateral, not “I’m about to take off.”

As for me, it’s still the same as always: low frequency. I’d rather make a little less. Just take a quick look at the on-chain data—don’t keep refreshing and retrying until your mindset breaks. First figure out the purpose, then talk about whether to follow or not.