Lately, I've felt how ruthless the attention economy can be: when a hot topic shifts, everyone's minds follow suit, and as a result, transaction fees and slippage cut into people first. My simple approach is to not focus on how "sexy the narrative is" at first, but to check if there's a real exit channel: where is the liquidity, are the collateral assets reliable, is the on-chain activity just a bunch of wash trading... If I don't understand it, I won't act yet; anyway, missing out is more comfortable than chasing the high.

The NFT royalty war is also quite typical—on one side saying they want to support creators, on the other side saying they want to loosen secondary market liquidity. Basically, it's all about grabbing attention and pricing power. Being driven by emotion is the biggest loss; now I prefer to wait until the hype cools down and pick up the overlooked scraps others don't want to see. Keep some positions, so I don't get led by the storyline.