Recently, I saw someone interpret large on-chain transfers and moves of exchange hot and cold wallets as "smart money"... and I actually started to feel a bit anxious. As long as the economy of blockchain games experiences inflation and there’s no real consumption of output, the liquidity pools get gradually drained, and the slippage curve becomes very ugly. In the end, everyone is left with only "run first."

Last week, I checked the same pool for the third time; the rewards kept increasing, but the buy orders were getting thinner and thinner. Basically, it’s like printing new coins to artificially support liquidity—if it can’t hold, it all crashes down.
Anyway, people like me see liquidity thinning and withdraw first; staying alive is more important than telling stories.