NFT News | April Week 4

Bitcoin’s value remains above $29,400 but is range bond in the fourth week of April. This is despite concerns over potential U.S. bank failures and an impending recession. Amidst financial instability in some countries, investors seek a haven in Bitcoin to safeguard against economic uncertainty.

Ether’s value, however, slightly declined but maintained its $1,900 support level. For now, let’s take a look at the NFT market. So, let’s see the most important news of the last week of april.

1) Decline in NFT Market Cap & Volume 

The NFT market cap has decreased by 1.23% to $4.2M in the fourth week of April, continuing the negative trend from the previous week. Moreover, the seven-day trading volume of NFTs has decreased by 27.13% to 96.83K ETH, indicating a decline in the demand for NFTs. 

Market Cap & Volume
Source: NFTGo
2) Mixed Counts in NFT Market Continue

In the fourth week of April, there were 4.36M NFT holders, a slight increase of 0.25%, suggesting that some people may still be interested in holding NFTs.

However, over the past seven days, the number of traders fell by 8.53% to 62.36K, while the number of buyers and sellers fell by 6.08% and 10.84%, respectively.  

These decreases imply that NFT trading activity and consumer interest have slowed down.

holders & traders
Source: NFTGo
3) Drop in NFT OpenSea Trading Continues 

In the fourth week of April, the number of unique active wallets (UAW) on OpenSea fell by 12.59% to 42.73k, showing fewer users were actively using the platform. 

Additionally, the number of transactions fell by 17.96% to 87.26k, and the trading volume fell by 15.05% to $34.63M, indicating that the platform’s trading activity continues to wane. 

OpenSea’s smart contract balance dropped 2.64% to $72.39k. These numbers imply that users are still interested in the site to some extent, although that interest may be dwindling. It will be interesting to witness how the NFT market and OpenSea’s platform development in the coming days and weeks.

OpenSea Transactions
Source: DappRadar
4) Mixed Numbers In Blur Activity 

In the fourth week of April, there were 17.65k fewer active users on the Blur marketplace, a fall of 12.83%. 

The platform’s trading activity continues to slow down, as evidenced by the 13.2% decline in transactions to 57.68k. Despite the decrease in trading activity, the smart contract balance went up by 21.83% to $118.52M, indicating that some investors still hang onto their assets on the platform. 

Blur Transactions
Source: DappRadar
5) Gain in Solana NFTs 

The average price of NFTs at Solanart rose to $96.21 during the fourth week of April, reflecting a 31.71% rise from the previous week. Additionally, the number of traders increased by 28.68% even though the trading volume declined by 8.81% to $12,98k. 

Meanwhile, OpenSea saw a 14.87% drop in the average price of NFTs, bringing it down to $23.31. The trader count rose by 8.74% to 398, but trading volume fell sharply by 54.22% to $12.28k. 

Solana Marketplaces
Source: DappRadar
6) Polygon NFTs 

OpenSea remained the top NFT marketplace regarding trading volume during the fourth week of April, despite a notable decrease of 38.29% to $3.41M. Also, despite a 54.48% drop in the platform’s average NFT price to $22.63, it still maintained its position as the most active platform with 93.39K traders.

Then, even when the average NFT price increased by 40.06% to $19.86, Rarible experienced a significant drop in trading volume by 60.11% to $38.49k and a decline in traders by 74.44% to 1.78K.

The OKX NFT Marketplace saw a marginal increase of 0.62% in the number of traders, maintaining it at 488. However, the trading volume decreased by 8.96% to $26.91k. The platform’s average NFT price dropped by 3.99% to $23.33.

On the other hand, experienced a significant drop in trading volume and traders. Trading volume decreased by 67.48% to $6.38k, and the number of traders fell by 61.39% to 144. The platform’s average NFT price dropped by 17.82% to $21.06.

The average NFT price in Decentraland surged by 148.35% to $9.40, while the number of traders decreased by 19.27% to 155. However, the trading volume increased by 27.18% to $1.39k.

Polygon Marketplaces
Source: DappRadar
7) Actionable (Non-Financial) Advice

Every week we will offer some actionable tips for those that want to get more involved in the NFT market. The sections will vary but we’ll be bringing you something every week.

The much anticipated Killacubs mint took place on April 20th. This collection is part of the Killabears ecosystem and is most certainly a future blue chip. Backed by entertainment industry veterans, execution quality is extremely high. We would go as far as saying that this team is further ahead than Doodles or Moonbirds when it comes to having a cohesive community and a Web3 NFT collection.

Furthermore, in the last bull run, the Killabears NFT collection did not have a run. In the bear market, it has held extremely well with many whales jumping into the collection.

Killa Cubs
Source: OpenSea

The team certainly does things differently. Now is the perfect time to jump into this ecosystem – KillaCubs had a mint price of 0.25ETH. Gas was also extremely high due meme coin meta that was currently playing out on DEXs. Currently the collection is below mint without the huge overheads of gas pricing.

It is 8,888 collection – but 3,333 were airdropped to the original KillaBears holders. The team certainly knows how to give value back to their holders. 

On the other hand, the Killabears collection is not your quick flip NFT collection. The incubation period (to reveal your bear) is 8 weeks. The team has structured it this way to have diamond-handed holders and build open their strong community. This collection allows entry at a lower price point with a long-term view of being part of the ecosystem.

killabears nft collection

Source: OpenSea

Anything under the mint price of 0.25ETH is a steal. The main collection Killabears (price-wise) is currently on par with Doodles and Moonbirds. If many believe that they will be 5 to 8ETH+ in bull run, then Killabears have every opportunity to do the same and perhaps even surpass that.

7) Quick News Round-Up
  1. The Sandbox collaborates with Ledger Enterprise to safeguard metaverse businesses.
  • The partnership between The Sandbox and Ledger Enterprise Solutions will be centered on providing various security solutions, including hardware wallet integrations and unique security configurations, to companies operating within the metaverse of the platform.

2. New Bored Ape Yacht Club owner plans to boost the NFT market with gaming events.

  • The new owner of the Bored Ape Yacht Club collection, Yuga Labs, intends to conduct many online gaming events for Bored Ape owners to introduce more people to the NFT industry and raise the collection’s worth.

3. NFT Collective Proof creates a 3D world for Moonbirds.

  • Proof is building a 3D environment for its Moonbirds community of NFT owners. The project aims to enhance Moonbirds NFTs with a unique community experience. Members will be able to communicate with each other and their NFTs in a virtual setting thanks to the 3D world.

⬆️ For more cryptocurrency news, check out the Altcoin Buzz YouTube channel.

⬆️ Check out our most up-to-date research, NFT and Metaverse buy, and how to protect your portfolio in this market by checking out our Altcoin Buzz Access group, which for a limited time, is FREE. Try it today.


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