Noah Garcia

It's about the story of the money, and you see it clearly when you watch wallets that consistently win big, holding right till the end.
But sometimes, this isn't a bad actor; it's a clever trader who just knows how to play the odds, like someone who always wins at the local poker game because they study the tells, not because they're peeking at cards.
This distinction is especially tough in smaller markets, where even a little bit of smart money can look like a whale.

Designating perfect-win wallets as a primary signal for insider trading shows a lack of discipline in analysis; it conflates confidence with illicit knowledge.
Such behavior is certainly a signal, but it is not decisive on its own.
A market maker, for example, often exhibits high win rates by continuously adjusting positions and holding contracts to maturity, not through inside information, but through managing their posture against market noise.
Their controllable actions create consistent outcomes without resorting to unethical practices.