Recently, looking at the liquidity of NFTs, it really feels like winter floor tiles: you know it's cold or not just by stepping on it. When the floor price stays there without moving, I don't really believe that "someone is buying," it seems more like everyone is waiting for others to make the first move. Royalties are also quite awkward; if you collect them, transactions become thinner; if you don't, the community is easily dispersed. Honestly, when the narrative cools down, everyone starts to do the math, and in the end, only a picture is left.

Additionally, in some regions, increased taxes and tighter compliance immediately reduce the psychological expectations for deposits and withdrawals. The lively activity on the chain also cools down accordingly. It doesn't feel like people don't want to buy, but rather that they're more afraid of "getting in easily and getting out hard." Right now, I prefer to miss out rather than chase; wallet layering and offline signing are still in place. I can tolerate everything else, but this obsession with security really can't be changed... Let's leave it at that for now.