NFT trading volume slides from $96M to $85M amid buyer and seller plunge
Weekly NFT trading volume has declined for two straight weeks, falling 30.7% to $95.8 million before dropping a further 9.2% to $85.3 million. The sustained NFT trading volume decrease signals cooling demand among collectors.
Buyer addresses initially rose 22.8% to 626,234 but then plunged 96.8% to 20,349, while seller counts climbed 13.5% to 469,316 before collapsing 95.1% to 23,241. Total NFT transactions eased 5.1% to 1.46 million and edged down another 4.2% to 1.405 million trades.
Ethereum NFT volume grew 12.9% to $40.3 million then fell 15.0% to $33.4 million. Base network activity rose 8.7% to $10.1 million before dipping 27.4% to $7.25 million. Mythos Chain recorded $7 million in trading volume, down 11.3%.
High-value NFT sales included CryptoPunks #8407 at 100 ETH ($413K), #8295 at 54.69 ETH ($196K), Bored Ape Yacht Club #3105 at 90 ETH ($360K), Autoglyphs #256 at 59 WETH ($223K), and several other CryptoPunks trades.
Bearish
The sustained decline in NFT trading volume, coupled with a sharp collapse in both buyer and seller activity, points to a significant reduction in market demand and liquidity. Ethereum’s NFT segment, which initially saw growth, has now reversed, suggesting traders are pulling back from high-value collectibles. The drop across layer-2 networks like Base and emerging chains like Mythos Chain further underscores broad market fatigue. In the short term, this trend is likely to weigh on NFT prices and dampen trading sentiment. Over the longer horizon, sustained low activity could delay market recovery until new catalysts emerge, making this development broadly bearish for NFT markets and related tokens such as ETH.