Over the past couple of days, whenever I look at macro news, they keep saying that interest rates might stay “high for a while,” and my own position mindset is like a software update: updating from “want to make a push” to “don’t rush to water it first.” Basically, when interest rates are high, everyone is more inclined to hold cash and wait for certainty. Once risk appetite gets tightened and turns more conservative, all that hustle on-chain can suddenly feel very quiet—both upswings and drawdowns become more prone to emotional swings.

And with new L1/L2 projects constantly rolling out incentives to boost TVL, I can understand the complaints from old users about “mining and then selling.” When interest rates are kept under pressure, people are more like coming to collect subsidies, and they’re less willing to stay in it for the long haul. As for me, I’ll keep doing it in batches—slower pace for now—then wait until the wind really turns warm before watering it a few more times. That’s it for now.