During the last bull market frenzy, well-known YouTuber Logan Paul bought an Azuki NFT for approximately $635,000. At that time, Azuki was the hottest anime-style digital collectible, with ample liquidity and skyrocketing popularity, attracting celebrities to jump in.

Years later, this Azuki is now valued at only $155. The same NFT, the image hasn't changed; what has changed is the market cycle.

This tells a classic story of crypto assets: **During a bull market, hype drives prices higher, liquidity is abundant, and everyone is a winner; during a bear market, enthusiasm fades, buyers disappear, and the timing issues become glaring.** Azuki's "rollercoaster" performance is a microcosm of the collective experience of market participants—cycles of speculative peaks and rational reversion.

For NFT investors, this is not Azuki's failure but the truth of market cycles. Those who bought at the high need to wait for the next cycle or accept it as the cost of a liquidity game. Some say "we are still early," but for Logan Paul's investment, timing is everything.