I just came across an NFT floor dropping so hard it chilled me to the bone. Liquidity is really a kind of mysticism—what else can you call it. The floor price falls fast, like a waterfall. Once royalties are adjusted, trading volume just doesn’t feel like showing up. Back then, everyone used to talk about community narratives, but now it’s cold like bottled water in the fridge. When it heats up, it relies on trading volume to carry it; when it cools down, it’s just waiting—waiting for the next protocol or some unexpected breakout.

The other day my mom saw me sighing at the screen and asked: What is this picture even about, that can sell for so much and then fall so badly? I laughed bitterly: Most likely it’s a bet. Sometimes it’s craftsmanship, sometimes it’s faith. Anyway, everyone who’s burning money thinks they can still turn it around.

Recently, a cross-chain bridge pulled off another theft incident. The oracle reported a price that was off the mark, and everyone got stuck there waiting for confirmation—inside and out, it’s all consensus of “wait a bit more.” Honestly, this kind of moment is probably good for going through those blue-chip NFTs that have been lying cold, to see if anyone is still talking in the community—or if it’s just robots刷prices now. As for me, I’ll observe for now. I only have a few scraps left, and I don’t want to chase highs or step into a trap.

Maybe full-chain games or modular narratives can bring some liquidity back to life—but I still don’t feel certain. I’ll just watch the drama for now, organize some notes, and go from there.