Lately, watching NFT liquidity feels a bit like listening to a bad joke: the floor price stays steady without moving, but transactions are so thin they’re almost paper-thin, and a tiny slippage scares people away. Royalties are even more delicate—charge too much and everyone complains it's too expensive; charge too little and they say “the community has no revenue, the narrative collapses,” so neither side is satisfied.

Honestly, when things are hot, everyone’s just telling stories; when it cools down, the stories get cut first, and what’s left is who’s still willing to really shell out money to buy in. Recently, people keep obsessing over staking unlocks and token unlock calendars, talking about selling pressure. I think emotional transmission is pretty quick: when the crypto world gets anxious, NFT trading volume shrinks first… I just keep watching and complaining. Long-term thinking also has to admit that when liquidity is poor, being stubborn doesn’t help.