Over the past couple of days, I’ve checked the floor prices of a few older NFTs, and it really feels like liquidity makes people’s hearts look unusually clear: when things are hot, one image can tell a whole community narrative; when things cool off, even royalties seem to tug at each other—buyers think it’s too expensive, while creators are unwilling to shut it down. To put it plainly, the floor isn’t really about price; it’s a thermometer for how “willing” someone is to step in and take the bag.

Outside, people are still using ETF capital flows and risk appetite in US stocks to explain crypto’s ups and downs. I’ll take a look too, but once I’m done, I still go back to my own pace: I treat my holdings like firewood—add to them slowly. For NFTs, what I care about more is whether I can exit anytime; if I can’t, then I’ll treat it as a collection. Don’t force it to pretend it’s an asset. That’s basically it—just a bit slower.