I went back and checked a few more NFT floor prices. How should I put it—liquidity is really just like a thermometer: when it’s hot, everyone is shouting about the narrative; when it’s cold, nobody even feels like placing bids. Royalties are pretty awkward, too—creators want money to keep things going, but when trading volume shrinks, everyone’s first reaction is to go looking for a “royalty-free” route… In the end, it’s still the community’s little bit of belief that gets hurt.

These past couple of days, the community has still been arguing whether extreme funding rates should reverse or keep squeezing more foam. I’m excited no matter whether I’m looking at the bulls or the bears, but I’m actually a bit calmer: I clear/revoke authorizations once every week on a set schedule, and while I’m at it, I also clean out those links in my wallet that I was once going to go for. Put simply, as long as I’m still clicking around, I’ll first reduce the risk of getting stolen via fake signature pop-ups. As for the rest… prices can rise and fall however fate decides—don’t treat your emotions as liquidity.