Blue-chip NFTs buck the trend but fail to hide market contraction, with trading volume and user numbers both declining

BroadChain, April 27 - Although blue-chip NFT series such as Pudgy Penguins and Bored Ape Yacht Club have recorded double-digit price gains, overall NFT market participation is shrinking. According to CryptoSlam data, global NFT sales have dropped from $304 million in February to approximately $175 million in April, with both trading volume and active user numbers nearly halving.

Meanwhile, the average selling price has doubled from $30.60 in March to $67.38 in April. Wash trading still accounts for about 50% of total trading volume, and overall trading profits remain negative. The data indicates that the market is stabilizing but not expanding, with prices rising but participation declining, and trading activity concentrated among a few top-tier series. Some of the price increases actually reflect the broader uptrend in Ethereum and Bitcoin.