Bored Ape’s floor price bounced back by more than ten percent, but trading volume is still thin. To put it plainly, NFT liquidity is pretty split—on one side, the “community narrative” can hold the floor for a few days, and then they turn around and start arguing over royalty splits, causing it to collapse back to its original form. Just now, I also saw more screenshots being circulated in the group about a certain stablecoin depegging; the mood is like a roller coaster. But when you think about it, what can retail investors really keep track of when it comes to reserve audits? In any case, I choose to keep watching the wallets of large on-chain holders—who’s quietly accumulating and who’s dumping and running is far more real than following trading calls. Forget it; with the market like this for now, it’s best to just look at the data.