Does anyone else feel like the NFT market has been both cold and hot lately—floor prices jumping around, and liquidity so bad it’s like walking through mud. A friend of mine has a few projects locked up for half a year, watching blue-chip charts dip and rise every day. He wanted to wait until royalties come back before selling, but the project team lowered the royalty rate, and the community’s opinions are also divided—he’s really having a headache.

That said, lately on-chain large transfers—lots of people treat them as “smart money” and rush in. In reality, many of them are just exchanges’ hot and cold wallets trading hands, then being wildly misinterpreted. I feel like there’s too much noise in the information environment; it’s hard to tell what’s real and what’s fake. My noise-reduction strategy is simple: don’t look at short-term buys and sells. I pull data with Dune myself, or I quickly check the holdings distribution on Nansen—following trades is simply less reliable.

Anyway, I’m still playing with small capital. I set an automatic sweep order when the floor dips, harvest some rare add-ons, and the rest I treat like planting crops—learning by stepping on traps. What do you all think?