NFT Market Slides to 2025 Lows as Sales, Prices, and Participation Decline

NFT markets closed the year on a weak footing, with prices and trading activity falling instead of posting a typical year-end rebound. December data pointed to declining participation, softer sales, and lower valuations across most collections, signaling continued strain as the sector moves into the new year.

December Deepens Downturn With Weak Sales and Fading Participation

Unlike other risk assets that often see seasonal support, NFTs failed to attract renewed interest. Weak trading volumes, falling prices, and reduced user activity suggested the market remained unstable.

Losses continued through December, pushing the total NFT market value to its lowest level of the year. According to market data, valuations fell to roughly $2.5 billion, down from $9.2 billion in January. Notably, that 72% drop reflects a prolonged cooling period after years of heavy speculation.

Sales activity showed little improvement following a weak November. Weekly NFT sales in December remained below $70 million during the first three weeks, trailing the prior month’s pace. Thin year-end liquidity added pressure, making any rebound difficult to sustain. Earlier interest in physical collectibles such as Labubu figures and Pokémon cards did not translate into broader NFT demand.

Participation across NFT markets continued to decline. Fewer users were trading, listing, or buying digital assets, reducing turnover and limiting price support. CryptoSlam data captured steady declines throughout the month, indicating waning interest from both new and returning participants.

NFT Rankings Shift as Sports Rollbots Replaces Mutant Ape Yacht Club

Several trends defined market conditions in December:

• Unique buyers fell from more than 204,000 in late November to about 135,000 by the third week of December.
• Unique sellers dropped 35.6% over the same period, slipping below 100,000 for the first time since April 2021.
• Weekly NFT transactions declined to roughly 800,000 by mid-December.
• No single week during the month exceeded 1 million transactions.
• Lower activity weighed on liquidity and price formation across collections.

Price performance among major NFT projects reflected the broader downturn. CoinGecko data showed that most of the top 10 collections by market value posted double-digit losses over the past 30 days. CryptoPunks, Bored Ape Yacht Club, and Pudgy Penguins recorded floor price declines ranging from 12% to 28%, indicating that even established names were affected.

Some segments showed relative resilience. Art-focused collections such as Autoglyphs, Fidenza by Tyler Hobbs, and Chromie Squiggle by Snowfro posted modest gains during the same period, supported mainly by long-term collectors rather than short-term trading.

A notable shift came from Sports Rollbots, which entered the top 10 NFT collections by market capitalization. With a floor price near $5,800 and a valuation above $58 million, the project displaced Mutant Ape Yacht Club from the top tier.

Analysts say ongoing weakness in NFTs could weigh on Ethereum, which hosts many major collections. Still, Ethereum’s broader use across decentralized finance and other blockchain applications may limit the impact as NFT markets remain under pressure.