Over the past two days, I’ve been刷ing the pool data for blockchain games again. It feels like many aren’t “nobody playing anymore,” but rather the economic model drags itself to death: production has been running nonstop, the consumption side can’t keep up, and the number of coins keeps increasing. The liquidity inside the pools looks quite lively at first glance, but it’s actually being diluted little by little by inflation. Later on, it turns into everyone waiting for someone else to take over the purchase liability—while the yield numbers are still jumping, the mood is already cooling down. Recently, topics like unlocking and staking-unlocking have also been brought up again and again. To put it simply, it’s the same kind of selling-pressure anxiety, just wearing a different shell.

Personally, I trust the data more. At least, on-chain fund flows and the distribution of coin holdings won’t be putting on a show. I have intuition too, but it’s easy to get carried away by emotions like “it seems like it’s about to rebound today.” Anyway, I just do low-frequency dollar-cost averaging and avoid touching high-inflation pools. I’d rather miss out on the excitement than be slowly bled out.