Lately, browsing NFT markets just feels two words: cold and quiet. The floor price still looks like it's there, but the listings are so thin that a couple of trades can send emotions soaring or crashing instantly. Royalties are more tangible; lowering them does improve liquidity, but if the narrative can't hold up, everyone is just bouncing around the floor, and no matter how heated the community's calls are, it just feels like self-entertainment.

What I care more about now is whether I can get out, not whether the story is great. A few days ago, cross-chain bridges were hacked again, and oracles reported errors—on-chain, everyone is starting to wait for confirmations first, no rushing in. Honestly, when liquidity is poor, the most expensive thing isn't the floor price, but the confidence that you can sell at any time. Anyway, I only dare to pick up small positions for sniping; going all-in is a myth for believers.