$BMT Myth vs. Fact: NFT Collection Analysis
Seeing Through the Hype $BMT
MYTH 1: "This NFT collection has 2,000 unique holders. It's a huge, decentralized community!"
FACT: The term "unique holders" only means the NFTs are spread across many different wallet addresses. A single person can own hundreds of wallets. On-chain analysis using @Bubblemaps.io on a trending NFT collection with 2,000 holders revealed that the top 5 connected wallet clusters groups of wallets all funded by the same source actually controlled 60% of the entire NFT supply. This shows a high risk of price manipulation by a small group of insiders.
MYTH 2: "This NFT collection just did 10,000 ETH in trading volume. It must be in high demand!"
FACT: Trading volume can be easily faked through "wash trading," where a small group of users sells NFTs back and forth to themselves to create the illusion of activity. $BMT Bubblemaps makes this visible. A visual analysis of one popular collection showed that over 70% of its supposed "trading volume" was just a closed loop of transactions between fewer than 20 wallets. The tool allows investors to distinguish real demand from artificial hype.