Recently, I've come across a bunch of PFP "raising memberships" and "building brands," basically putting the avatar up first and then setting the threshold. What does long-term value really depend on? I think it's still liquidity: whether someone is willing to take your order on DEX, whether the depth is sufficient, otherwise once the hype fades, the slippage is longer than a poem.

Am I being too pessimistic?
Maybe, but I remember when I lost money.

On the macro side, once expectations of rate cuts come, the discussion about the dollar index and risk assets moving together again, sentiment really feels like a tide, rising and retreating together. PFPs are more like containers of attention; branding is what keeps attention around, but if you can't retain trading depth, it ultimately leaves room for others to be the counterpart... Anyway, I now prefer to go slower and chase less after that "community feeling."