Haciyev Reşit 
The downward trend in the NFT market has accelerated. November’s sales volume fell to the lowest level of the year, once again highlighting the weak demand within the digital collectibles ecosystem. According to CryptoSlam data, NFT sales dropped to $320 million in November — nearly half of October’s $629 million volume. This decline pushed monthly sales back to levels last seen in September 2024.
The $62 million in sales recorded during the week of December 7 stands out as the weakest weekly performance of 2025. The slow start to December suggests that this decline could spread throughout the entire month.
NFT Market Cap Collapses: Down 66% From the Peak
NFT valuations are under heavy pressure alongside the shrinking market volume. According to CoinGecko data, the total market cap of the NFT ecosystem now stands at $3.1 billion. This is 66% below the peak value of $9.2 billion reached at the beginning of the year — meaning more than two-thirds of the sector’s value has been wiped out.
This steep decline reflects not only falling prices but also a clear weakening of investor interest and trading activity. Experts believe the drop in NFT valuations is the result of both macroeconomic uncertainty and the decline in speculative demand for digital collectibles. Altogether, the data shows the NFT ecosystem is currently going through a significant period of stagnation.
Most major collections have seen sharp losses over the past 30 days:
- CryptoPunks: –12%
- Bored Ape Yacht Club: –8.5%
- Pudgy Penguins: –10.6%
Even Blue-Chip NFT Collections Couldn’t Escape the Pressure
High-profile “blue-chip” collections have also experienced setbacks:
- Chromie Squiggle: –5.6%
- Fidenza: –14.6%
- Moonbirds: –17.9%
- Mutant Ape Yacht Club: –13.4%
The steepest decline occurred in the Hypurr collection, which fell 48% in the last 30 days — the worst performance among the top 10 largest NFT collections.
A Volatile Quarter: Brief Recovery, Persistent Downtrend
The NFT market has faced significant volatility over the last quarter, and the data clearly shows the sector has entered a deep slowdown. From October to November, the market cap dropped from $6.6 billion to $3.5 billion, contracting 46% in just 30 days. Although a brief recovery emerged in mid-November following this sharp decline, it did not last.
According to current figures, the NFT market has once again fallen to $3.1 billion, marking a total decline of 53% since October. This indicates that investor interest has weakened significantly, trading volumes have decreased, and the overall market sentiment remains strongly negative. Experts say declining demand, macroeconomic uncertainty, and reduced risk appetite are the main forces driving the ongoing pressure in the NFT ecosystem. In the short term, a strong recovery in the digital collectibles market appears unlikely, as the sector continues to struggle with weak liquidity and low investor engagement.
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