NFT Market Faces Significant Decline Amid Broader Crypto Downturn

According to Cointelegraph, the non-fungible token (NFT) market has experienced a substantial decline, reaching its lowest monthly sales volume this year. Digital collectibles have seen a significant drop in market capitalization, falling over 66% from their January highs. Data from CryptoSlam reveals that NFT sales plummeted to $320 million in November, a stark contrast to the $629 million recorded in October. This decline has brought monthly volumes back to levels not seen since September 2024, when sales hit $312 million. Further analysis shows that between December 1 and 7, NFTs generated $62 million in sales, marking the weakest weekly total of 2025. This slow start to December indicates that the downturn may continue throughout the month as NFT momentum wanes. The downward trend is part of a broader decline in NFT valuations. CoinGecko reports that the sector's overall market cap stands at $3.1 billion, a 66% decrease from its peak of $9.2 billion in January. CoinGecko data also highlights that most top NFT collections have mirrored the broader market decline. CryptoPunks, the largest by market cap, fell 12% over the last 30 days. Bored Ape Yacht Club slipped 8.5%, while Pudgy Penguins dropped 10.6% during the same period, continuing a pullback across dominant NFT assets. Art-driven blue-chip collections were not spared either, with Chromie Squiggle sliding 5.6%, Fidenza falling 14.6%, Moonbirds dropping 17.9%, and Mutant Ape Yacht Club down 13.4% in the last month. Hypurr experienced the largest decline among the top 10 NFT collections, shedding 48%. Despite the overall downturn, two major collections posted gains in the last 30 days, defying the trend. Infinex Patrons, currently the second-largest NFT collection by market cap, saw a 14.9% increase, while Autoglyphs outperformed the entire top 10 leaderboard with a 20.9% surge. The latest decline comes amid a turbulent quarter for the NFT market. As previously reported by Cointelegraph, NFTs recorded a sharp drop in valuation from October to November, with digital collections falling from $6.6 billion to $3.5 billion, representing a 46% drop in just 30 days. This weakness was followed by a brief rebound on November 11, when the NFT market cap recovered from $3.5 billion to $3.9 billion, reflecting renewed interest alongside a memecoin rally. However, the recovery was short-lived, as CoinGecko data shows the NFT market cap is now at $3.1 billion, down 53% from October.