SecondBreakfast on Nostr: Not necessarily. When you peg in it's obvious on chain due to the receivers address ...

Not necessarily. When you peg in it's obvious on chain due to the receivers address being a specific type of multsig. I think Sideswap might be able to swap instead of pegging in from on chain to Liquid if it's under a certain amount. If you swap into Liquid from Lightning using Boltz then someone watching on chain wouldn't know what took place, also Boltz can't tell where the Lightning payment came from. It really depends on what you want to do and trying to achieve. Using Liquid and on chain alone will probably be traceable since addresses are still known, but when you add lighting into the mix its much harder from an outsiders view what happened with those particular utxos