Recently, on-chain data keeps "lagging," and many people's first reaction is that the market is about to change... I tend to blame the infrastructure first: indexers need to scan the chain and write to the database, Subgraphs will pause when re-syncing/restructuring, and RPCs might be rate-limited, so the collateralization ratio and health metrics you see are like hitting the pause button. If you're just watching the liquidation threshold, that kind of delay can be really frightening.

If I had only relied on the readings from a single subgraph for risk control back then, I probably would have panicked and liquidated randomly. Now I casually cross-check two or three sources (on-chain direct reads / another RPC / different indexers), and if the data doesn't match, I just treat it as a "display issue" and don't rush to draw conclusions.

By the way, I want to complain that recently there's a lot of hype explaining all market rises and falls with ETF capital flows and U.S. stock risk appetite, but sometimes that bouncing number on your screen isn't market sentiment at all — it's just RPC choking. When it comes to risk, first make sure the data isn't dropping the chain before making judgments.