I used to think that interest rates were something far away from me, anyway there are plenty of opportunities on the chain... Now I really understand: when interest rates are high, everyone's risk appetite shrinks, and when the mainstream shakes, even someone like me who is just stacking positions also gets a bit timid, avoiding heavy positions when possible, saving some bullets to buy the dip when sentiment warms up again. To put it simply, macro is like a master switch, when the switch is off, even FOMO warriors have to learn to brake.

Recently, new L1/L2 projects have started offering incentives to attract TVL, and the old user's phrase "dig, sell" makes me want to laugh... but it's also quite true: when it's hot, everyone rushes like during the New Year, and when it's cold, many just want to cash out quickly. I used to follow the trend and add to my positions, but now I prefer: do the tasks, diversify funds, take out a little if I can, and treat the rest as a lottery, an airdrop enough to buy milk tea is a win, just like that.