When I recently look at the liquidity of NFTs, it really is rather like the weather: when the floor price cools down, everyone starts talking about “the narrative is gone”; when it heats up, they all treat it as a matter of faith. The royalty side is even more subtle—basically, the worse the trading gets, the more people want to cut royalties. Creators and holders both have their own grievances, and after all the arguing, it really still comes back to the same question: who exactly is paying for the community story?

I also happened to see the community tearing into privacy coins, coin mixing, and the boundaries of compliance again… Some people think these are bottom lines, while others see them as survival tools. Emotions are running high, but on-chain, it won’t provide any extra liquidity just because someone has a louder voice.

My own habit of avoiding impulsive orders is kind of old-fashioned: when I want to buy, I first put my phone down, check the number of trades and the order-book depth to make sure it isn’t that kind of “looking hot.” Then I wait for a block or two—time enough for two cups of water. If I can hold back, it means I don’t really have to buy no matter what. In any case, going a bit slower usually won’t make things worse.