NFT trading volumes have fallen to their weakest level of the year while the global crypto market tries to regain bullish momentum in the last leg. November reportedly generated around $320 million in NFT sales. This was barely half of October’s $629 million and more than 66% below January’s $900 million-plus peak.
The massive dip shows how far the digital-collectibles market has retreated from the frenzy that dominated the start of 2025. However, the slump also marks the slowest month since September 2024, when volumes went on to touch $312 million.
Bitcoin, the original crypto, is also down by almost 12% over the last 30 days.
NFT sales hit softest week of 2025
Data shows that the slowdown has carried into December. In the first seven days of the month, NFT collections recorded only $62 million in sales. This has been the softest weekly reading of 2025. It is an early sign that buyers remain cautious heading into year-end. Meanwhile, CryptoSlam data shows that NFT sales volume jumped by 41% in the last 24 hours to hit $9.63 million.
This comes in as NFT valuations continue to reset across nearly every major collection. CoinGecko data puts the sector’s current market cap around $3.06 billion. It’s down sharply from the $9.2 billion posted in January.
Data shows that CryptoPunks has slipped 12% over the past month. Bored Ape Yacht Club is down 8.5%, while Pudgy Penguins dropped 10.6%.
Art-focused blue chips didn’t perform any better. Chromie Squiggle is down 5.6%, Fidenza 14.6%, Moonbirds nearly 18%, and Mutant Ape Yacht Club 10% over the last month. Hypurr posted the steepest fall among the top collections. It shed almost half its value to trade around $12,626.
fwogs NFT explodes with 1,337% sales surge
Amid the losses, some winners performed well under pressure. Infinex Patrons climbed 10% over the past 30 days, while Autoglyphs surged 20.9%. It was the strongest performance among the top-10 collections. This suggests that liquidity isn’t disappearing uniformly, but consolidating around specific narratives.
CryptoSlam data shows that fwogs NFT collection, running on Ether, recorded a spike of 1,337% in sales over the last 24 hours. Its transactions surged by 1,733% to hit 2,072 with 667 buyers. CryptoPunks, too, saw a spike of 618% in sales as its transactions pumped 600%.
The slowdown in NFTs mirrors the broader fatigue that swept the crypto markets. Bitcoin is on track for its first negative year since 2022. BTC is running down by 4% on a year-to-date (YTD) basis. It is trading at an average price of $90,510 at press time.
The bearish sentiments got triggered by rate-cut uncertainty and trade tensions. However, the historic liquidation event in October that erased more than $19 billion in leveraged positions played a crucial role in the scenario.
Bitcoin had surged above $126,000 in early October. It was riding the rally triggered by the election of President Donald Trump just only to collapse days later after the administration unveiled new tariffs on Chinese imports.
Since then, BTC has struggled to regain momentum. The token was down more than 20% in November, its worst monthly performance in over three years.
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