picking up the signal…picking up the signal…picking up the signal…This wallet: no position with a known cost yet. A token that only passed through a transaction (a route's middle step) is not a trade, and a transaction that ends in the asset it started with is arbitrage: both stay out of positions and P&L. Net worth is HYPE plus the bags seen on the tape, from public balance reads repriced by the tape, so its line moves with transfers too, not only trades. A signal’s change runs from the market cap when it was posted.