Who's ready to talk about how NFTs have almost zero bid support? The absence of liquidity around even the most blue chip of projects is actually something to pay attention to. Last cycle, although they weren't operating transparently, we learned that both Wintermute and Binance amongst others were creating artificial volume (market-making) with bots and KOLs to prop up the NFT pfp market. This cycle, what you see is primarily organic demand. Which in theory is great. However, collectors are in for a rude awakening if they think they can just liquidate at will like we saw from some big names taking advantage of endless WETH offers last time. I think maybe this could be a net positive, because it will force projects to execute to realize price action and it also deters scalpers. But the million dollar question still remains, where is the next catalyst going to come from? Who's going to buy our bags? Who's going to be attracted to NFTs, adopt the tech, and expand these pools of liquidity? We need a real catalyst if NFTs are going to keep leveling up. Otherwise, we are just playing hot potato with JPEGs with zero reassurance.