Recently, I’ve been flipping NFTs, and honestly, liquidity feels pretty mysterious: once the floor price cools off, listings are like they all collectively “pretend to be dead”; the moment royalties get adjusted, everyone starts tallying everything up—until they end up stressed to the point of baldness. Community narratives are even more ridiculous: when things are hot, it’s like a temple fair and like a stock forum at the same time; when it’s cold, all that’s left is self-judgment—“why did I buy in the first place?” As a kind of contrarian indicator, I’m even less willing to talk tough. Just as I was about to say, “it’s about to take off,” my hand goes and cuts my position again. And on top of that, with the recent wave of a certain region raising taxes and tightening compliance, once expectations for fund inflows and outflows changed, sentiment shrank right along with it—making it even harder for NFTs to keep the relay going. Anyway, I’ll just play the spectator for now: do less, watch more, and don’t dump all my anxiety onto the chain.