Recently, I checked the data of several blockchain game pools again, and honestly, the collapse points are not that mysterious: when production increases and inflation kicks in, the small amount of real buying in the pool simply can't keep up, and the more frequently rewards are distributed, the more selling pressure there is. Studios are even more "efficiency monsters"; they don't care about sentiment, only about recouping costs. When the token price softens, a spiral begins: people run, depth thins, rewards become less valuable, and people keep running... It looks quite powerless.

I personally trust data a bit more, at least I can see whether "new additions / consumption / lock-up" are improving; intuition is useful, but it's too easy to be fooled by hype and narratives. Anyway, now I prefer to enter slowly rather than be the last one to top up the pool.