Recently, observing NFT liquidity has been both cold and hot: when the floor price loosens, the order book thickness instantly turns into paper; but when the narrative kicks in, everyone can turn the same image into a belief. Royalties are also quite awkward—frankly, the more frequent the buying and selling, the more concerned they are about costs. A slightly higher royalty fee leads everyone to choose the "cheaper route," which ultimately makes the serious market less deep.

My kind of meticulous person also keeps an eye on transaction structure and packing order... In the same sweeping wave, who goes first and who goes later, the slippage difference enough to buy a cup of coffee. By the way, I see that spot/futures funding rates are extreme again, whether the group argues about reversals or continues to squeeze the bubble, I just feel that when emotions reach their peak, the "heat" on the NFT side often just remains stubbornness.

What I fear missing the most isn't actually opportunities, but rather myself who could pay less slippage tax but is too lazy to glance at the order book a bit more.