To be honest, the NFT liquidity lately has been so cold it’s kind of ridiculous. Floor prices got slashed in half, then slashed again. No matter how touching the project team’s little community narrative sounds, it doesn’t hold up against a royalty controversy on paper. Blur and Opensea fought a back-and-forth for half a day, and in the end the ones who got hurt were still the creators—rewards were down, and liquidity didn’t really improve much.

I used to be a “I only look at the chain” kind of paranoid—I’d stare at Dune to track floor price trends and thought emotions were just nonsense. Later I realized that doesn’t hold up. NFT buy pressure is driven by emotion; even if the data looks great, if nobody’s buying, the floor still keeps falling like a dog. Now I’m practicing how to balance on-chain data with community sentiment—it’s pretty interesting. Anyway, when I short orders and avoid sandwiches, I still stick to adjusting slippage the old-fashioned way.