Recently, I’ve seen a bunch of people watching "whale addresses" to follow trades, and I’m honestly a bit worried. To put it simply, just because you see them buying doesn’t mean they’re building a position; they could be hedging, moving positions, market-making to replenish inventory, or even just showing it to you. The moment you follow in, the risk structure has already changed.

And now, those on-chain data tools and tagging systems are often criticized for being outdated or misleading, which is quite normal: tags are user-applied, paths can be bypassed, and a contract with a different alias can turn "smart money" into "retail money." My own approach is pretty simple: first, check if they have opposite positions before and after, whether they’re withdrawing liquidity from other pools at the same time, don’t just focus on a big buy order and get carried away. I’d rather miss out than use my own position to guess what others are really doing.