I just went through the NFT market—floor prices are dropping hard, but everyone thinks this is a “bargain-buying opportunity.” In reality, liquidity has almost frozen; orders posted for half a day still aren’t getting picked up, and royalties have been cut as if they were nonexistent. No matter how hot the community narrative is, if nobody’s buying, it’s just cold leftovers. Macros-wise, rate-cut expectations are being blown up aggressively; the US dollar index and risk assets move up and down together—but this NFT move doesn’t seem to have caught the hype. Anyway, in the cross-chain routing tool I’m using, NFT cross-chain liquidity is even worse—market makers can’t be bothered. Forget it, I’ll observe for now; there’s no point in getting too serious.