The liquidity of NFTs is really both cold and hot lately: when the floor price drops, everyone talks about “faith” on their mouths, but in their hands they first slide their listings down; royalties are also pretty realistic—once trades are fewer, talking about ideals gets a bit hollow… As for community narratives, they’re never in short supply: today it’s about art, tomorrow it’s about identity—lively, but not necessarily able to withstand selling pressure.

The signal in the elevator is bad, so I can’t be bothered to post long threads—I just stare at on-chain activity and keep screenshots of large transfers. Recently, someone has also been treating any move of exchange hot and cold wallets as “smart money.” To be honest, I’m just amused by it—don’t get too carried away.

Anyway, I’ve lowered my goal: I’m not chasing the “next breakout hit,” I just set a small watchlist—check the floor and transaction volume once a day. If it feels right, then I’ll take action… and the result is, I actually end up sticking with it for longer.