Over these past two days, I keep seeing people chat about how NFT floor prices are back again. I took a look at the liquidity—yeah… it’s still the same: a bunch of orders sitting there, and only a few actually get filled. The royalty thing is also pretty awkward. If you charge too much, buyers think it’s overpriced; if you don’t charge, the community narrative cools off halfway. Basically, everyone is waiting for “someone to seriously make the first move.” After that cross-chain bridge theft, the group’s default catchphrase quietly changed to “wait for confirmation.” Even when the oracle’s quotes glitch and look erratic, nobody makes the first move—better to miss out than get harvested.

Right now, I’m just lowering my expectations, and it feels easier: I don’t count on the floor to redeem anything, and I don’t treat the story like cash flow. When I see it suddenly getting hot, my first reaction isn’t to rush in—I think instead about where the exit channel is… For now, that’s that. Have some tea and watch the mempool.