Just saw a comment saying this round’s funding rate is insanely negative, asking me whether I should buy the dip. Truth is, I’m not sure either. But based on my experience from running interactions over the past few months, in situations like this it’s either “paying people” or getting buried. Yesterday I saw the funding rates of several major coins all hit around -0.1%. If it were in the past, a bunch of people would have rushed in to take the funding. But with this market… anyway, I’m not going to touch it. Even if trading fees are lower, losing principal is still worse.

The whole NFT royalty drama has also been pretty intense lately—creators and platforms are bickering with each other. Liquidity in the secondary market was already bad, and now they’re doing this too. Plainly speaking, the risk of acting as a counterparty is too high right now; staying away from volatility is the sensible move. I’m going to first organize the wallets for a few interaction accounts I have. I’ll save on gas fees wherever I can, and then I’ll make moves once the market stabilizes. That’s it for now—if anything new comes up, we’ll talk.