Lately, I've been feeling a bit anxious about NFT liquidity: the floor price isn't really the "lowest price," more like everyone's psychological bottom line where they don't want to lose money at the same time, and once it loosens up, it crashes. The royalty issue is also awkward; if it's too high, buyers don't want to buy, if it's too low, the community feels the narrative isn't being respected... Anyway, both sides are difficult.

Many projects now rely on storytelling to survive; when it's hot, they can explain anything, but when it's cold, even a listing looks like talking to oneself, like waiting in line at a bubble tea shop or a late-night convenience store— the contrast is quite real.
Some people interpret large on-chain transfers and unusual activity in exchange hot and cold wallets as "smart money," but after seeing so much, I just want to double-check my own interaction records and snapshot times first, so I don't end up missing an airdrop or getting hit by the floor price. Forget it, I'll just leave it at that.