Lately I've been looking at address tagging/clustering again, and the more I look, the more I feel: better to serve as a "landmark," not an "ID card." Frankly, many profiles are guessed based on transfer paths and interaction contracts; when encountering multi-signature, proxy contracts, or cross-chain bridges, it immediately feels like cat hair stuck all over the keyboard—shapes are right, but the person may not be.

I used to think "drawing out the flow of funds = the truth," but after chasing so-called smart money a few times, I realized they might just be market makers/arbitrageurs, or even a few team wallets clustered together... Anyway, I now trust structure more: whether funds move in and out of L2, which modular chains they stay on, whether cross-chain gateways are single points of failure, rather than just saying "a whale is buying."
By the way, the NFT royalty dispute also seems quite similar: tags say "support creators," but when secondary liquidity tightens, everyone becomes very honest. On-chain behavior is more genuine than stance, but also easier to misinterpret. That's it for now, taking it slow.