April NFT trading volume hits $4.8 billion, down 40.5% month-over-month

“NFT trading volume in April decreased by 40.5% month-over-month to $4.8 billion due to the decline in the prices of major NFTs,” The Block Pro reported via X. “The market share of BLUR declined to 7.7%, while NFTs remained at the top.

“BLUR's market share dropped slightly from 65.7% to 63.3%, but it remained the top performer, while the number of NFT traders decreased by 14.9% over the same period, from 26.3k to 22.4k. NFT market royalties fell by more than 50% to $3.6 million as trading volumes declined, with most platforms seeing a drop in effective royalty rates (ERRs). This suggests that in a bear market, NFT prices fall even further and market sentiment to avoid paying royalties prevails.”