NFT Market Experiences Significant Downturn
November marked the weakest month for non-fungible token sales in 2025, with total volume reaching just $320 million. This figure represents a sharp decline from October's $629 million and signals continued pressure across the digital collectibles sector.
Data from CryptoSlam reveals that sales volumes have retreated to levels last seen in September, when the market generated $312 million. The downturn has extended into December, with the first week producing only $62 million in sales, marking the slowest seven-day period of the year.
Market Capitalization and Major Collections See Declines
The NFT market capitalization now sits at $3.1 billion, a significant drop from $9.2 billion in January. This 66% decrease reflects widespread valuation declines across major collections and a broader investor retreat from digital assets.
PUNKS, the largest collection by market cap, experienced a 12% decrease over the past 30 days. Bored Ape Yacht Club declined by 8.5%, while Pudgy Penguins dropped 10.6% during the same period.
Art-focused collections faced similar pressure. Chromie Squiggle slid 5.6%, Fidenza fell 14.6%, and Moonbirds dropped 17.9%. The Mutant Ape Yacht Club saw a decrease of 13.4% in the last month.
Hypurr recorded the steepest decline among the top 10 collections, shedding 48% of its value. Only two major collections managed to post gains during this period.
Infinex Patrons, currently the second-largest NFT collection, rose 14.9% over 30 days. Autoglyphs outperformed the entire leaderboard with a 20.9% surge, bucking the broader market trend.
Volatile Quarter for Digital Collectibles
The current decline follows a volatile quarter for digital collectibles. Market cap dropped from $6.6 billion in October to $3.5 billion in November, representing a 46% decline in 30 days. A brief recovery pushed valuations to $3.9 billion on November 11, coinciding with a meme coin rally, but this rebound proved short-lived as selling pressure resumed across the sector.