These past couple of days, I've been feeling like "taking a break," stopping from chasing the floor price, taking a moment to look at the order book to see who's actually absorbing the trades, and by the way, stopping scrolling through those emotional posts in the community. NFT liquidity, to put it simply, boils down to two lines: whether the floor can stay stable and who is willing to pay the royalties. Everyone says they support creators, but when it comes to actual transactions, they start to avoid paying royalties, and when the narrative heats up, they rush in; when it cools down, they pretend to be dead... I personally focus on permissions first—whether the contract can be arbitrarily modified, who can access the vault—these are more practical than pondering the universe. Also, on the privacy coin/mixing coin side, the disputes over compliance boundaries are quite intense, and it feels the same: once the narrative gets heated, risks are automatically ignored. That's it for now; today I won't add to my positions or take sides.