VelvetValidator

Recently, some people have been using a bunch of "tags/clustering" charts to discuss capital flows, which look quite impressive, but I’ve always felt that address profiling is only about 60-70% reliable at most. One person might split their funds across a dozen wallets, mixing hot wallets on exchanges, and then with cross-chain transfers and proxy contracts, it’s very easy to mistake "the same group of people" for "new funds," or to lump unrelated addresses together. Especially with meme and celebrity shoutouts that cause attention shifts, on-chain data can suddenly become very "lively," but b

Recently, the group has been arguing again about whether the extreme funding rate is a reversal or just a bubble being squeezed... I want to remind everyone first: the "on-chain data" you see may not be happening on the chain right now; sometimes it's just that the route you're looking at is congested. Nodes, RPC, and the indexing layer—if any of these get stuck, the transfers/settlements you see will be "delayed," and it's easy to mistake this delay for a trend emotionally. To put it simply, don't be too superstitious about the second-by-second updates on a certain dashboard. When I encounter