Recently, when looking at NFT liquidity, there are really only two words: don’t hold on. The moment the floor price cools off, listings look like people lining up to return tickets, yet trades are sparse; the whole royalty situation is also pretty awkward—if you charge high royalties, everyone goes around it, and if you charge low royalties, people complain that the project team has no money to do anything. In the end, it still has to be propped up by narrative—when the narrative is hot, everything can be explained; when it cools down, even “community consensus” starts to feel like just a group announcement.

What’s more interesting in the group these days: on one side, there are people urging how to buy when hardware wallets are out of stock, and on the other side, someone quickly clicks a phishing link. Security awareness is high, but everyone’s also quite panicked… To put it simply, when liquidity is poor, people are even more likely to get swept along by emotions. For now, I’m trying to chase fewer hot posts, look more at on-chain transfer paths, and don’t let the “story” overpower the risks. That’s it for now.