Why are the names of Vedic personalities characteristic of their personalities?

In Srimad Bhagavatam we see many ‘names’ of the personalities symbolically represent their activities. Some examples are Hiranyaksha- whose eyes made of gold, Hiranya kasipu- who is after gold and soft bed, Dhrtarastra- who encroaches others land, Sunithi- who gives good advice, Suruchi etc.

Did their elders gave names to these personalities by predicting their future activities. Or Because of their activities they got these symbolic names? (eg: Duryodhana-who fights for the wrong cause, original name was Suyodana).